Indonesia to Provide Tax Breaks and Funding Assistance to the MSME Sector

According to President Joko Widodo, the Government of Indonesia has decided to provide a tax break for small and medium enterprises (SMEs) and provide financial assistance for micro, small and medium enterprises (MSMEs) to raise working capital during the COVID-19 pandemic.

Addressing a cabinet meeting on the 29th of April 2020, he stated that SMEs with a turnover under IDR 4.8 billion per annum would be provided the tax break facility for a period of six months effective April to September 2020.

He also stated that 23 million of micro, small, and medium enterprises (MSMEs) in Indonesia which have not previously secured loans from banks or financial institutions, would be provided...