Tuesday, 11 June 2019 08:51

Coordinating Ministry Prepares Four Policies for Next Week's Follow-Up

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The Coordinating Ministry for Economic Affairs is preparing four policies entailing fiscal facilities for development of human resources and finalizing special economic zone regulations to be followed up next week.

Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso remarked that the government was pushing to accelerate the Finance Ministerial  Regulation on super deduction tax fiscal incentives for human resource development.

"In connection with the super deduction tax, we are currently pursuing initial settlement in five ministers. It is expected to be completed this week. The president will sign the government regulation and the finance minister has prepared the Financial Ministerial Regulation," Moegiarso noted at the halal bihalal (post-fasting festivities) event at the office of the Coordinating Ministry for Economic Affairs in Jakarta on Monday.

Moegiarso explained that industries involved in vocational education programs and conducting R & D activities to produce innovation will be eligible to receive this fiscal incentives.

The second policy pertains to boosting exports to improve Indonesia's trade balance deficit. This is one of the four priority policies being pushed apart from increasing investment, import substitution, and boosting foreign exchange.

Coordinating Minister for Economic Affairs Darmin Nasution has ordered a special team involving all stakeholders to boost export performance.

Furthermore, the Coordinating Ministry for Economic Affairs will review and re-evaluate the application of one-door integrated services known as the Online Single Submission (OSS).

The fourth policy that was immediately completed was a revision of the government regulation for the implementation of special economic zones. In the revision, in addition to tax incentives in the form of tax holidays and tax allowances, the government offers tax breaks on personal income tax for special economic zone in the sectors of services, education, health, and creative economy.

"Hence, it must be clear how private taxpayers' income tax is regulated. For instance, for the special economic zone in the education sector, there are foreign lecturers who come here, what is the income tax imposed on them,  and what kind of policies for specialist doctors," Moegiarso pointed out. (ant) 

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