Indonesia could become a world leader in clean energy with further reforms to mobilise investment in renewables and energy efficiency, according to a new OECD report.
The COVID-19 crisis has disrupted two decades of steady growth and rising living standards in Indonesia, triggering the first recession in a generation and highlighting the need to improve skills, strengthen institutions and governance of state-owned enterprises, and reduce barriers to competition.
Australia, Japan, Korea, and New Zealand did better than most countries in flattening the curve of the COVID-19 epidemic and containing the first wave of the virus, according to the OECD’s first analysis of the impact of COVID-19 on health systems of countries across the Asia-Pacific as well as governments’ responses to control the virus.
A steady economic expansion in Indonesia is boosting living standards, curbing poverty and offering millions of people greater access to public services.
The fourth annual edition of Revenue Statistics in Asian Countries covers seven countries, including Kazakhstan for the first time. It shows that the tax-to-GDP ratio in all these countries are lower than the OECD average of 34.3% in 2015, which highlights that scope remains for increasing tax mobilisation, especially in Indonesia, Kazakhstan, Malaysia and the Philippines to achieve sustainable growth.
As part of continuing efforts to boost transparency by multinational enterprises (MNEs), Gabon, Hungary, Indonesia, Lithuania, Malta, Mauritius and the Russian Federation have now signed the Multilateral Competent Authority Agreement for Country-by-Country Reporting (CbC MCAA), bringing the total number of signatories to 57. Lithuania and Hungary joined the Agreement in October and December 2016 respectively.
In 2014, the tax-to-GDP ratios of Indonesia, Malaysia, the Philippines and Singapore were below 17% of GDP compared to Japan and Korea, which both recorded tax-to-GDP ratios above 24%,according to new data released in the third edition of the OECD’s annual publication Revenue Statistics in Asian Countries.
Indonesia has undergone an extraordinary transformation over the past two decades, benefiting from strong growth that has lifted millions out of poverty and allowed important progress in areas such as health and education. But low levels of public spending and tax revenue are undermining the quality of social services and exacerbating infrastructure gaps, according to the OECD.
Current carbon prices are falling short of the levels needed to reduce greenhouse gas emissions driving climate change, but even moderate price increases could have a significant impact, according to new OECD research.
On 11-12 November 2015, the first Asia-Pacific Technical Meeting on BEPS discussed the outcomes of the BEPS project, and the challenges countries face in the region in implementing BEPS, and explored how countries in the region can engage in the implementation, on-going development and monitoring of the measures adopted, on an equal footing.