Profits For Developed Countries, the Minister of Investment Asks for the Implementation of the Global Minimum Tax to be Reviewed

Illustration. (Photo: Doc. Antara)

JAKARTA - The Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia requested that the implementation of the Global Minimum Tax (GMT) be reviewed.

Bahlil said implementing GMT would only benefit certain countries, in this case, developed countries with stronger investment competitiveness.

This was conveyed by Bahlil as Chair of the AIA Council (Asean Investment Area) at the Asean Economic Ministers' meeting, in Semarang, Saturday, August 19.

"With the provisions of the global minimum tax earlier, the maximum tax holiday is 15 percent. From the agreement, it was decided that this needed a review, "concluded Bahlil in a written statement, Sunday, August 20.

“Don't let this be implemented then benefit one particular group of countries. We don't want this," he continued.

Furthermore, according to Bahlil, the implementation of GMT is not yet apple to apple between developed and developing countries. Developed countries must open space for developing countries to attract investment to achieve progress.

"We want developed countries to also provide space for developing countries to accelerate their self-adjustment so that when implementing global tax income, it is already apple to apple," said Bahlil.

To attract investment, said Bahlil, developing countries currently still need sweeteners. So that the tax policies of developed countries cannot be beaten equally with developing countries.

"We are currently studying, there must be another sweetener. To be honest, it's not apple to apple, but developed countries want to make it the same baseline as developing countries," Bahlil concluded.