Policy brief // Perkumpulan PRAKARSA






PB 42 - Wealth Tax to Fight Asymmetrical Distribution of Tax Burden
October 3, 2023
Herni Ramdlaningrum, Eka Afrina Djamhari, Irvan Tengku Harja, Rizky Deco Praha, Victoria Fanggidae

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PB 42 \u002D Wealth Tax to Fight Asymmetrical Distribution of Tax Burden Image
Abstract

This Policy Brief discusses the importance of implementing a wealth tax to address asymmetric tax inequality in Indonesia, the Philippines and Vietnam. Income and wealth inequality is increasing in these countries, with most wealth concentrated in the top income groups. A wealth tax can help to equalize income and complement existing taxes, hence the need for a fairer and more equitable wealth tax policy.

This Policy Brief also recommends concrete steps that the governments and legislatures of Southeast Asian countries can take. These steps include raising tax rates on passive income sources, taxing passive or non-taxable income sources such as inheritance, and formulating a more equitable wealth tax policy. The proper implementation of wealth tax policy is expected to reduce tax inequality and increase tax revenue.

This Policy Brief also highlights the importance of gender equality in the tax system. Tax policies that only focus on increasing indirect taxes, such as VAT, instead of increasing direct taxes (income tax), are potentially more burdensome for women. Therefore, a gender-based tax policy is needed that can provide a stimulus for tax deductions or tax reductions for women.

Read the full Policy Brief volume 41 entitled "Wealth Tax to Fight Asymmetrical Distribution of Tax Burden".

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