Indonesia will implement tax incentives for LED products
China News Agency, Jakarta, June 16th, Indonesian Finance Minister Ban Bang said recently that the Indonesian government should stimulate economic growth through investment.
Ban Bang said that this year, the Indonesian government issued the No. 18 government regulations in 2015, and introduced a series of tax incentives to attract domestic and foreign investment. The first is the tax exemption policy for certain businesses investing in specific regions; the second is to provide tax incentives for green investment industries such as LED, geothermal, natural gas processing, and non-hazardous waste treatment; the third is to lower the corporate income tax rate, which President Zocco has approved. The corporate income tax has been gradually reduced from the current 25% to 17.5%, but the specific implementation timetable has not yet been determined.
According to the Indonesian Ministry of Finance, according to Indonesia's “2015-2019 Medium-Term Construction and Development Planâ€, Indonesia will build 2,650 kilometers of highways, 1,000 kilometers of expressways, 3,258 kilometers of railways, 24 large ports, 60 ferry terminals and 15 in the next five years. Modern airports, 14 industrial parks, 49 reservoirs, 33 hydropower stations, and irrigation systems for about 1 million hectares of farmland are estimated to cost about $424.5 billion.
Danba, vice chairman of the Indonesian Investment Coordination Committee, said that China has invested 1.5 billion U.S. dollars in Indonesia in the past five years. In 2014 alone, it reached 800 million US dollars, an annual increase of 169%.
It is reported that 10 years ago, the bilateral trade volume between China and Indonesia was 16.6 billion U.S. dollars. In 2014, it reached 63.6 billion U.S. dollars, nearly quadrupling. In 2014, China’s non-financial direct investment in Indonesia was US$1.05 billion, ranking first among the 10 ASEAN countries, up 37.6% year-on-year. As of the end of March this year, China’s cumulative investment in Indonesia reached US$4.14 billion.
Ban Bang said that this year, the Indonesian government issued the No. 18 government regulations in 2015, and introduced a series of tax incentives to attract domestic and foreign investment. The first is the tax exemption policy for certain businesses investing in specific regions; the second is to provide tax incentives for green investment industries such as LED, geothermal, natural gas processing, and non-hazardous waste treatment; the third is to lower the corporate income tax rate, which President Zocco has approved. The corporate income tax has been gradually reduced from the current 25% to 17.5%, but the specific implementation timetable has not yet been determined.
According to the Indonesian Ministry of Finance, according to Indonesia's “2015-2019 Medium-Term Construction and Development Planâ€, Indonesia will build 2,650 kilometers of highways, 1,000 kilometers of expressways, 3,258 kilometers of railways, 24 large ports, 60 ferry terminals and 15 in the next five years. Modern airports, 14 industrial parks, 49 reservoirs, 33 hydropower stations, and irrigation systems for about 1 million hectares of farmland are estimated to cost about $424.5 billion.
Danba, vice chairman of the Indonesian Investment Coordination Committee, said that China has invested 1.5 billion U.S. dollars in Indonesia in the past five years. In 2014 alone, it reached 800 million US dollars, an annual increase of 169%.
It is reported that 10 years ago, the bilateral trade volume between China and Indonesia was 16.6 billion U.S. dollars. In 2014, it reached 63.6 billion U.S. dollars, nearly quadrupling. In 2014, China’s non-financial direct investment in Indonesia was US$1.05 billion, ranking first among the 10 ASEAN countries, up 37.6% year-on-year. As of the end of March this year, China’s cumulative investment in Indonesia reached US$4.14 billion.
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