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Indonesia Announces Tax Breaks In 2020 Budget

by Mary Swire, Tax-News.com, Hong Kong

30 August 2019


Indonesia's 2020 Budget, which was tabled before parliament in the middle of August, has been endorsed by opposition political parties in the House of Representatives. It includes an array of new tax incentives.

According to the Government, political parties responded positively overall to the Budget's provisions at an August 22, 2019, plenary.

Speaking in parliament, Minister of Finance Sri Mulyani Indrawati explained that the Budget features a new super deduction for investment in vocational and research and development activities, a "mini tax holiday" for companies investing under RP500bn (USD35.2m) in eligible projects, and a new investment allowance for labor-intensive industries.

In addition, according to information released by the Government, the Budget includes value-added tax reliefs for the importation of capital goods and transportation vehicles, including ships, aircraft, and trains.

TAGS: Finance | tax | investment | value added tax (VAT) | tax incentives | Indonesia | research and development

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