Indonesia Mulls Further Tax Incentives for Investors

Companies investing in Indonesia have been offered tax incentives by the government to help the country reach its target of attracting $1.1 trillion in new investments, reveals The Jakarta Globe.


The Globe writes that the Ministry of Economic Coordination has opened for consultation with appropriate agencies to discuss the proposed incentives and to decide whether the measures are to be called "tax holidays."


Citing Industry Minister MS Hidayat, the newspaper writes that the incentives will be for intensive industries that add value to the raw materials the country produces.


To reach its goal, the Indonesian government has already given substantial fiscal incentives to companies, such as lowered corporate taxes on income and land in special economic zones, as well as exemptions from the value-added and luxury-goods taxes, notes the newspaper.


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