Financial Regulatory Forum

Indonesia passes law on VAT, luxury sales tax

By Reuters Staff
September 16, 2009

Indonesia's finance minister, Sri Mulyani Indrawati, arrives for the G20 Finance Ministers meeting at the Treasury, in central London September 5, 2009, REUTERS/Dominic Lipinski/Pool      By Dicky Kristanto and Andreas Ismar
JAKARTA, Sept 16 (Reuters) – Indonesia’s parliament on Wednesday passed a revised law on value added tax (VAT) and sales tax on luxury goods, which could boost corporate mergers and spur the country’s fledging Islamic markets.

UBS to disclose U.S. bank details, others face scrutiny

By Reuters Staff
August 19, 2009

SWITZERLAND/ By Jason Rhodes and Kim Dixon
BERNE/WASHINGTON, Aug 19 (Reuters) – Switzerland will hand over details of about 4,450 UBS bank accounts to U.S. authorities, settling a tax dispute that has threatened Swiss banking secrecy, the two governments said on Wednesday.