New Indonesia stimulus starts with expanded tax perks
A wide range of companies investing more than 1 trillion rupiah will get lower taxes for between 5 and 15 years
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Jakarta
TWO weeks after a cabinet reshuffle, Indonesian President Joko Widodo's revamped economic team promised a "big" stimulus plan as global market turmoil increases pressure on policy makers. The team's first act: an expansion of past tax holidays.
Chemicals, machinery, agricultural, maritime transport and upstream oil and gas companies investing more than 1 trillion rupiah (S$100 million) will get lower taxes for between 5 years and 15 years, Finance Minister Bambang Brodjonegoro told reporters in Jakarta on Thursday. Tax reductions will be between 10 per cent and 100 per cent, he said.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
