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Jakarta Post

Govt hopes tax incentives can make more companies go public

  • Marchio Irfan Gorbiano

    The Jakarta Post

JAKARTA   /   Wed, May 1, 2019   /  04:19 pm
The Jakarta Post Image
A man passes a share price display at the Indonesian Stock Exchange (IDX) in Jakarta(Antara/Sigid Kurniawan)

The government has expressed hope that a number of fiscal incentives such as income tax reductions and low transaction taxes will further encourage local companies to hold initial public offerings (IPO) and float their shares on the Indonesia Stock Exchange (IDX).  “The more firms that go public, the better it is for our national economy as well as for the credibility of our capital market,” Taxation Directorate General spokesman Hestu Yoga Saksama told businessmen at a seminar in Jakarta recently.  “If that happens, we are optimistic that tax revenue will be even better.” The government has already offered a 5 percent reduction in corporate income tax for companies listed on the stock exchange as stipulated by Government Regulation No. 56/2015. The tax cut will be applied if at least 40 percent of the companies’ shares are held by more ...