The Indonesian Government is said to be considering a package of tax breaks aimed at boosting business and to offset rising production costs, reports the Jakarta Post.
The initial plan will call for elimination of VAT (Value Added Tax) on the import of plant and machinery for industry in addition to raw materials intended for the farming, fishery, forestry and animal husbandry sectors. This is estimated to cost the government one trillion rupiah ($112 million).
"There will be another stimulus package coming soon. We have made the draft of the regulation and are now waiting for (parliament's) approval," said a finance ministry official.
The government is hoping to claw back the lost revenue in higher returns through increased production and economic activity.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment