The government has issued a decree granting a 5% tax cut to listed companies in which the investing public owns not less than a 40% stake, Thomson Financial reported Monday (14/1/08).The corporate tax rate now ranges from 10% to 30%.
The decree took effect January 1, said Darmin Nasution, Director General for Tax at the Finance Ministry. One company with more than a 40% free float is PT United Tractors, which is 58.45% owned by PT Astra International. President Susilo Bambang Yudhoyono earlier said the tax incentive was aimed at encouraging more companies to go public. (www.ekon.go.id)
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