- Indonesia's Minister of Finance, Sri Mulyani Indrawati, and Coordinating Minister of Economic Affairs, Airlangga Hartarto, have confirmed that they are currently preparing further incentives which will be introduced across 11 new sectors (aside from the manufacturing sector) currently being affected by the ongoing Corona Virus Disease (COVID-19) pandemic. Sri Mulyani further clarified that said sectors will, among others, include transportation, hospitality and trade.
- One of the incentives that will be given is in a form of fiscal incentives in relation to Article-21 Income Tax (PPh Pasal 21) or the employee salary tax, as well as a relaxation of the current Value-Added Tax (PPN) framework and the introduction of corporate tax deductions for periodic payments of 30%. Meanwhile, a more long-term stimulus package is currently being prepared through the drafting of the Draft Bill on Job Creation and the Draft Bill on Taxation.
- The government predicts that the national economy will begin to recover from the impact of the COVID-19 pandemic during the third quarter of 2020 and will post economic growth in the 4.5 to 5.5% range during 2021. (ANT)
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