ZCZC
BCN-30
INDONESIA-VAT-INVESTORS
Indonesia expands VAT-exempted services to attract investors
JAKARTA, Nov. 22, 2018 (BSS/Xinhua) – Indonesia on Wednesday expanded
items of export-oriented services subject to Value Added Tax (VAT) exemption
to seven ones from the previous three.
The move was aimed at attracting more investors to invest in the country,
completing the latest economic reform package recently issued by the
government.
“Finalization of administrative process was underway at present so as to
make us have the same facilities like the ones provided by other ASEAN
countries,” Indonesia Finance Minister Sri Mulyani said.
The items now subject to zero percent VAT were information and technology;
research and development; legal, accounting and auditing; trade;
interconnection; transportation vehicle rental and freight forward services.
The minister said that her office is now considering to reform tax
incentives in energy and property sectors as well as tax for proceeds
generated from activities to export commodities.
“Through those reforms we hope business activities in those sectors would
be more vibrant,” she said.
The new tax policies are expected to further support the government’s 16th
economic reform packages issued last week.
BSS/XINHUA/HR/1410