Jakarta. Indonesia president Joko Widodo said the government will propose a cut in the corporate tax rate to improve competitiveness once a tax amnesty program expires.

“We are in a competitive era, if we are not brave, investors will leave,” Widodo told reporters on Monday (01/08). The amnesty is due to expire at the end of March next year.

Widodo said the government was still calculating what the appropriate tax rate should be. The finance ministry has previously said tax may be lowered to 20 percent from 25 percent currently.

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