Indonesia Has Introduced Preferential Tax Policies To Stimulate Investment And Consumption.
In order to lighten the burden of enterprises and stimulate investment and consumption, the Indonesian General Administration of Taxation recently issued preferential tax policies, adjusting income tax, luxury consumption tax and value-added tax separately. The main contents are as follows: raising the personal income tax levy line from the original 24000 shield / day (about 2.7 US dollars) to 63000 shield / day; the income tax collection ratio of agriculture, forestry, planting and fishery enterprises decreased from 1.5% to 0.5%; and the value-added tax of Expressway and industrial electricity was suspended. The following products are exempt from the luxury consumption tax rate: mobile phones, wireless modems, TV telephones, washing machines not exceeding 6 kilograms of washing machines, refrigerators of 180 liters and below, air conditioners of not more than one power, no more than 1 million shields of import prices, including VCD, VCR, DVD, cameras with no more than 500 thousand shields, pponders, hair driers, vacuum cleaners, etc. The consumption tax rate of luxury products below is reduced: the VCD with an import price of more than 1 million shields, a camera with an import price of more than 500 thousand shields, and more than one air-conditioner.
The Indonesian chamber of Commerce and industry welcomed the above tax incentives and hoped that the concessions could be extended to industries such as textiles, shoes, food, iron and steel, and chemical industries, so as to help more enterprises and workers. According to Indonesia's Ministry of trade, the government will also introduce a series of preferential measures to stimulate exports in the near future.
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