Indonesia to grant special tax incentives for ‘pioneers’

Indo industryIndonesia will offer “pioneering” businesses a tax holiday under a proposed plan to spur investment in under-developed industries, a senior official of the National Planning and Development Agency said on July 15 according to a report in the Jakarta Post.

Companies interested in investing in the nation’s metal, oil and gas and machine-building industries would receive a full or partial tax break under the agency’s proposal. The government would also float import duties on products that would increase productivity in labour-intensive industries, the agency’s head Armida Alisjahbana was quoted as saying.

“The tax holiday will be given by the government to pioneer industries, those which provide added value,” she said.

Companies would have to invest at least $100 million and deposit 10 per cent of the investment in domestic banks.

Indonesia is in need to attract more foreign direct investment, as the country faces difficulties with its economic performance due to high inflation, a rising unemployment rate, as well as poor infrastructure and poverty in remote regions.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

Indonesia will offer “pioneering” businesses a tax holiday under a proposed plan to spur investment in under-developed industries, a senior official of the National Planning and Development Agency said on July 15 according to a report in the Jakarta Post. Companies interested in investing in the nation’s metal, oil and gas and machine-building industries would receive a full or partial tax break under the agency’s proposal. The government would also float import duties on products that would increase productivity in labour-intensive industries, the agency's head Armida Alisjahbana was quoted as saying. “The tax holiday will be given by the government...

Indo industryIndonesia will offer “pioneering” businesses a tax holiday under a proposed plan to spur investment in under-developed industries, a senior official of the National Planning and Development Agency said on July 15 according to a report in the Jakarta Post.

Companies interested in investing in the nation’s metal, oil and gas and machine-building industries would receive a full or partial tax break under the agency’s proposal. The government would also float import duties on products that would increase productivity in labour-intensive industries, the agency’s head Armida Alisjahbana was quoted as saying.

“The tax holiday will be given by the government to pioneer industries, those which provide added value,” she said.

Companies would have to invest at least $100 million and deposit 10 per cent of the investment in domestic banks.

Indonesia is in need to attract more foreign direct investment, as the country faces difficulties with its economic performance due to high inflation, a rising unemployment rate, as well as poor infrastructure and poverty in remote regions.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply