Through the Minister of
Finance Regulation No. 159/PMK.010/2015, Finance Minister Bambang Brodjonegoro
issued a new policy, which essentially makes the Tax Holiday rules better, and
the process of obtaining such facility become more simplified. In a news
conference with the Minister of Industry and Deputy of Investment Coordinating
Board (PKPM), in Jakarta, on Thursday (August 27), Bambang stated that the
difference of the facilities in regulation,
in addition to aiming to facilitate its implementation, is also aimed at
encouraging the industry to be more oriented to the downstream sector.
“The difference with the previous regulation, i.e.
Minister of Finance Regulation No. 130/PMK.011/2011 is that in the previous
regulation, tax holiday request was filed to the Ministry of Industry or BKPM, now
it is filed through the OSS (One stop Service) that has been established in
BKPM since last year, he said. In addition, the new regulations of the Minister
of Finance also give certainty to companies that requested the facility. After
a certain period, these companies can know whether their tax holiday request is
accepted or projected.
Why? Because after the issuance of the this regulation,
the determining of tax holiday facility no longer has to wait for the issuance
of presidential regulation, but directly from One Stop Service (PTSP) at BKPM
submitted to the Verification Committee. From there, they immediately submit recommendation
to the Finance Minister. If The Minister of Finance is certain that the company
meets the requirements, and worth of such facility, The Minister of finance
will immediately grant the tax holiday facility.
Similarly, the requirements to obtain tax holiday will
not be much difference from the previous regulation contained in Minster of
Finance Regulation No. 130/2011 the criteria of the company that will receive
the facility is that the company must be a pioneer company and classified as a
tax-obedient company. Recipients of tax holiday are companies whose investment
is at least IDR 1 trillion. The Government also imposes certain rules that
apply relaxation in the form of a minimum investment of IDR 500 billion
provision to certain industries, Bambang added.
Through tax holiday facility, the Government provides
convenience in the form reduction of income tax (corporate income tax) payable
between 5 to 15 years. The amount of the reduction is from 10 percent to 100
percent. “If means that we did not exempt all tax payments of the company
concerned, but only reduces the corporate income tax payable”, he said.
Four Companies Acquiring
Tax holiday
In the some occasion, Minister of Industry Saleh Husin
stated that there are four companies that received tax holiday facility First,
PT Ogan Ogan llir (OKI) Pulp and Paper Mills; second, PT Unilever Oleochemical Indonesia;
third, PT Petrokimia Butadine Indonesia; and fourth, PT Energi Sejahtera Mas.
Previously, the Ministry of Industry has proposed 11 companies to obtain tax holiday.
However, this time the Government has just approved the grant of tax holiday to
four companies. In addition, there are two companies that are still being
discussed and are waiting for the issuance of Minister of Finance Regulation.
“PT Indorama Polychem Indonesia, PT Caterpillar Indonesia
Batam, PT Feni Halim, PT Well Harvest Winning Alumina Refinery, and PR
synthetic Rubber Indonesia are in the process by the verification team. As for
Companies that submitted tax holiday proposals and the proposals have not been
processed, there are two companies, namely PT Sulawesi Mining Investment and PT
Sateri Viscose International”, he said.
Tax Holiday policy was launched as a strategy to attract
long-term investment funds, especially for pioneer industries. This step is in
line with improvement of business and investment climate in the country.
Therefore, his party is optimistic that the policy will accelerate the growth
of the pioneer industries which will encourage further development of the
industrial sector. “In the context of tax holiday, a pioneer industry is an
industry that has a strategic value for the national economy and provides value
added and high externality”, he added.
In addition, the definition of “pioneer industry” is an
industry that introduces new technologies, and has extensive connections. There
are five pioneer industries, i.e. base metals, petroleum refining and/or basic
organic chemicals derived from petroleum and natural gas, machinery, industry
in the field of renewable resources, and communications equipment industry. The
Government also stipules nine pioneer industry business sectors, namely 1)
upstream metal sectors, 2) petroleum refining, 3) basic organic chemicals
derived from petroleum and natural gas, and 4) machinery industry that produces
industrial machineries.
The fifth business sector is processing industry based on
agriculture, forestry, and fisheries, 6) telecommunications, information and
communications, 7) marine transportation industry, 8) processing industry which
is a major industry in the Special Economic Zones, 9) economic infrastructure
in addition to the one using Government – Enterprise cooperation scheme (KPBU).
(E)
Business New - September 2, 2015
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