Indonesia Considers Revamp Of Taxation Structure

Spot USD/IDR has added 13 figs so far and last trades at IDR14,210 and a return above the 100-DMA at IDR14,245 would open up the 200-DMA at IDR14,403. On the flip side, a fall through yesterday's low of IDR14,145 would shift focus to Feb 26 low of IDR14,105.

• USD/IDR 1-month NDF trades +22 figs at IDR14,245, with bulls looking for a rally above the 100-DMA at IDR14,318. Conversely, a dip through May 7 low of IDR14,133 would open up Feb 25 low of IDR14,080.
• Finance Ministry said Monday that the gov't looks into an overhaul of the taxation structure in a bid to boost tax revenue. Studied changes include VAT hike and a new multi-tariff structure.
• Bali Gov Koster said that the province wants to achieve herd immunity by July to reopen its borders to foreign visitors.
• Intertek data showed that Indonesia's palm oil exports rose by a quarter in April vs. a year before.
• Bank Indonesia are expected to publish their March retail sales report today. Elsewhere, FinMin Indrawati & Energy Min Tasrif will attend an event.