Leveling the Playing Field, the Government Cuts Income Tax Rate on Bonds for Local Investors

Early this month, OJK, Indonesia’s Financial Services Authority, issued Circular Letter No. 20/SEOJK.04/2021 in response to the impact brought by the current pandemic towards the capital market sector. The Circular reaffirmed the validity of past relaxations provided by OJK, in addition to introducing new relaxations. While the Indonesian capital market sector has seen some highs during the recent months, OJK still views those certain relaxations are necessary to safeguard the performance and stability of the capital market, specifically issuers and public companies.