Sunday, 30 November 2008

Income tax facilities

The Chairman of Investment Coordinating Board (“BKPM”) issued the guidelines and procedures for submitting an application of income tax facilities for the Investment Company in the certain sectors and/or regions (BKPM Regulation No.2/P/2008 of 2008)(October 14, 2008). The said regulation sets out the guidelines for the Company to obtain the income tax facilities. The Company shall submit the application of income tax facilities to Ministry of Finance through the Chairman of BKPM. Then, BKPM issues the recommendation letter if the applicant has fulfilled all the requirements. Based on the recommendation letter of BKPM, the Ministry of Finance will issue grant the income tax facilities to the respective applicant.

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