Three industries to get tax holiday: BKPM
Thursday, June 23 2011 - 07:44 AM WIB
Government will issue a regulation on tax holiday in August 2011, with steels, oil refinery and coal gasification, cited as industry sectors expected to get the tax holiday.
According to the Capital Investment Coordinating Board (BKPM) Director of Deregulation Indra Darmawan, the three industries deserve to get a tax holiday because they have met the criteria set by the board.
The points in the criteria include investment in new industry, pioneer industry, introducing new technology, and having strategic value for economic development, Indra said.
He said that ministry of finance is also evaluating possibility to give tax holiday for geothermal sector.
He also disclosed that the tax holiday will be valid five year and is extendable to three years. (*)