For cash-strapped Asian governments, global tax pact offers respite from cuts

Indonesia said it would cut its corporate tax across the board by 20 per cent over three years.
Indonesia said it would cut its corporate tax across the board by 20 per cent over three years.PHOTO: REUTERS

JAKARTA - Plans to impose a minimum corporate tax may ease competition for investment and offer a fillip to coffers as governments scramble to raise revenue amid an escalating pandemic.

Vietnam, Malaysia, Thailand and Indonesia have been taking an axe to corporate tax in a bid to attract companies fleeing China to escape United States tariffs.

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