Indonesian Government to Provide more Colour on Tax Breaks under its USD 8.1 Billion Stimulus Package amidst the COVID-19 Outbreak
March 16, 2020
Email Finance Minister of Indonesia, Sri Mulyani Indrawati announced a variety of tax benefits that will be offered for a period of six months starting April 2020. These incentives are aimed at supporting employees, manufacturers and importers amidst the challenges imposed by the novel COVID-19 outbreak.
The Ministry of Finance Indonesia (MOFI) will waive the income taxes paid by manufacturing sector entrepreneurs earning less than IDR 200 million per year and will also suspend collection of employees’ income taxes.
Import taxes payable by companies across 19 manufacturing sectors will be waived off, in addition to offering these companies a 30% corporate tax discount.
