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Jakarta Post

Economy in brief: Incentives set for small investments

  • The Jakarta Post

Jakarta   /   Thu, May 17 2018   /  02:50 am

The government is finalizing a regulation on fiscal incentives for new investments below Rp 500 billion (US$35.49 million), which are not covered in the latest tax-holiday scheme.Under the regulation being prepared, fresh investments worth between Rp 100 billion and Rp 500 billion will be eligible for a 50 percent cut in corporation tax for five years, said Investment Coordinating Board (BKPM) deputy chairman Azhar Lubis.“The new incentives will be applied for pioneering industries that do not meet the Rp 500 billion requirement [for obtaining a tax holiday],” he said in Jakarta on Wednesday.The industries eligible for the incentives will be the same industries stipulated in Finance Ministry Regulation (PMK) No. 35/2018 on tax holidays, which include pharmaceutical raw materials, petrochemicals and semiconductors, as well as electrical parts and manufacturing.The latest incentive is ...