Mon, 06 Jul 2009
From:
JAKARTA -(Dow Jones)- Indonesia's finance ministry is considering proposals to remove the value-added tax on imported catalysts for refineries, tax on capital goods imports for refineries and providing loan guarantees to refinery developers, the Ministry of Energy and Mineral Resources said in a statement on its Web site Monday.
The proposals, if approved, are expected to encourage both local and foreign investors to build refineries in Indonesia.

State-owned PT Pertamina currently operates seven refineries across the country with a total daily output of 950,000 barrels.

Demand for petroleum products in the country, however, is around 1.020 million barrels a day. Pertamina meets the shortage by importing the products.

The ministry said the Finance Ministry in a meeting in May had rejected other proposals for providing tax incentives for 20 years and removing tax on dividends for refinery operators.



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