Indonesia Set to Provide Broader Tax Cuts for Selected Sectors

Indonesia would provide wider tax cuts to cover 11 industry sectors to help businesses cope with the economic effects of the COVID-19 pandemic, similar to the tax incentives granted to manufacturing industries, said Sri Mulyani Indrawati, the Minister of Finance of Indonesia.

She added that the sectors will be food, trade, electricity, oil and gas, mining and coal, forestry, tourism and the creative economy, telecommunications, logistics as well as transportation and construction.

Indrawati also noted that the benefits would be in the form of individual income tax waivers, import tax deferrals and 30% reduction in corporate tax. These tax incentives are expected to be included in the...