Govt. to announce tax incentives for industries soon
The government said it will soon announce tax incentives for select industries in a move to boost investment, Asia Pulse reported Wednesday (12/3/08).
A number of related ministers will meet to finalize the plan and to determine industries entitled to tax incentives, Coordinating Minister for Economic Affairs Boediono said.
The announcement came after a group of business leaders held a meeting recently urging the government to provide tax cuts to improve the investment climate in the country.
Corporate income tax in Indonesia is 30% as compared to 26% in Malaysia, 20% in Singapore, 28% in Vietnam and 17.5% in Hong Kong.
Individual income taxes in Indonesia range from 5% to 35%.
A number of related ministers will meet to finalize the plan and to determine industries entitled to tax incentives, Coordinating Minister for Economic Affairs Boediono said.
The announcement came after a group of business leaders held a meeting recently urging the government to provide tax cuts to improve the investment climate in the country.
Corporate income tax in Indonesia is 30% as compared to 26% in Malaysia, 20% in Singapore, 28% in Vietnam and 17.5% in Hong Kong.
Individual income taxes in Indonesia range from 5% to 35%.