OVERVIEW. The standard tax deduction is a flat amount that the tax system lets you deduct, no questions asked. Tax deductions allow individuals and companies to subtract certain expenses from their taxable income, which reduces their overall tax bill.
Factbook Countries Indonesia Government. Government type: republic. Definition: This entry gives the basic form of government. Definitions of the major governmental terms are as follows. (Note that for some countries more than one definition applies.): Absolute monarchy-a form of government where the monarch rules unhindered, i.e., without any laws, constitution, or legally organized oposition. Anarchy-a condition of lawlessness or political disorder brought about by the absence of governmental authority.
Indonesia relies heavily on its own state to drive its economy, with the government owning 141 businesses in key industries. The state also controls prices on a range of basic goods including fuel, rice, and electricity. Nevertheless, since the 1990s, private interests have controlled 80 percent of the economy. Indonesia is a member of the G-20 major economies. In 2012, Indonesia surpassed India as the second fastest growing G-20 economy (following China), but has since fallen back to third, as of 2014. Economic History Indonesia's early economy revolved around agriculture, shaped largely by its geographical location and relative isolation. The archipelago was known in ancient times for its abundance of natural resources.