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Jakarta Post

Govt lays out tax incentives to help domestic industry

  • Alfian

    The Jakarta Post

Jakarta   /   Mon, October 13 2008   /  11:40 am

To help bolster the competitiveness of domestic industries, the finance ministry has scrapped import duties on several raw materials for up to eleven industries, including shipbuilding and automotive components businesses. In a statement issued late last Friday, the ministry announced that the policy could have generated slightly more than Rp 1 trillion (US$106 million) in state revenue in the last three months of the year. "The incentive is given both to guarantee supply for domestic demand of consumer goods and to strengthen our real sector, in particular general and relevant industries," the ministry's head of public relations Samsuar Said said. Raw materials exempted from duty include those that are not produced domestically, or in insufficient volume. The eleven industries are: The airline, cruise, coal-fired power generator, shipbuilding, hea...