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Finance ministry optimizes tax incentives for research, development

Denpasar, Bali (ANTARA) – The Ministry of Finance has optimized tax incentives for research and development to encourage a conducive business climate.
“As a result, we hope business entities that conduct research in technology, as well as production, will not move from Indonesia. There are tax incentives or super deduction tax up to 300 percent,” Deputy Finance Minister Suahasil Nazara said in Nusa Dua, Bali, Thursday.

Infrastructures, business environment, and human capital must be good, Nazara remarked.

He expected the investors to remain in Indonesia as the country encouraged a good investment climate, the Deputy Minister said at the 9th Annual International Forum on Public Policy and Economic Development (AIFED).

The government called on all parties to work towards building a conducive investment climate.

However, the government could not forcefully stop the owners of technology companies if they wanted to move out.

If research and sustainable production were carried out in the country, business in Indonesia would get added value from investors in the form of technology transfers.

In addition to tax incentives for research and development, the government also offered tax incentives for vocational education and training and RD up to 200 percent of the costs incurred by companies for vocations.

Another incentive for domestic taxpayers (WP) of entities who make new investments or expand businesses is that they are entitled to a reduction in net income by 60 percent.  

Related news: “Super deductible tax” incentives to be completed in March: Mulyani
Related news: Indonesia to offer more interesting tax incentives for investors

Article source: https://en.antaranews.com/news/137703/finance-ministry-optimizes-tax-incentives-for-research-development

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