Indo Mines obtains R&D tax incentive refund
Friday, June 12 2015 - 01:50 AM WIB
By Ruli Setiawan
ASX-listed Indo Mines Limited announced Friday that is has received an R&D Tax Incentive refund of A$1,266,608 for the 2014 financial year.
The R&D Tax Incentive is an Australian Government program under which companies receive cash refunds for 45 percent of eligible expenditure on research and development, the company said in a statement.
The incentive refund results from expenditure on advancing Indo Mine?s Kulon Progo iron sands project in Yogyakarta, Indonesia, it added.
Editing by Reiner Simanjuntak