Tax facility extended<\/p>\n
JAKARTA (JP): The government has given a three-year extension
\nto a tax facility granted to both domestic and foreign investors
\nin a bid to attract more investment.<\/p>\n
The Investment Coordinating Board (BKPM)'s deputy chairman for
\nindustry assessment and licensing, Wardijasa, said yesterday that
\nthe facility was supposed to expire on March 31 but has now been
\nextended until March 31, 1998.<\/p>\n
\"We need to extend this facility because we do not offer tax
\nholidays to investors like some other countries do,\" Wardijasa
\nsaid.<\/p>\n
Under decree No. 327\/A.1\/1996, signed by BKPM Chairman Sanyoto
\nSastrowardoyo on April 1, both domestic and foreign investors who
\nacquire investment licenses prior to March 1998 can postpone
\nvalue added tax and luxury tax payments on the imports of capital
\ngoods for three years from the time they acquired their licenses.<\/p>\n
\"This facility is to encourage investors to realize their
\ninvestment commitments,\" Wardijasa said.<\/p>\n
The current rate of realization for foreign investment is only
\n50 percent, while domestic investment realization is much lower.
\n(rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tax-facility-extended-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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