- The Financial System Stability Committee (Komite Stabilitas Sistem Keuangan – “KSSK”) is currently preparing an integrated policy package through the Forum Discussion Group (“FGD”) in order to map and identify the real issues that are currently being faced by the business sector. The head of the KSSK and Indonesia’s Minister of Finance, Sri Mulyani, has further elaborated that the results of the FGD will become the primary reference and consideration during the formulation of the planned integrated policy package.
- Generally speaking, policy implementation for 2021 represents a continuation of the prevailing taxation incentives that were originally rolled out under the auspices of the National Economic Recovery Program. Said incentives encompass the following: 1) Reductions in Income Tax (Pajak Penghasilan - “PPh”) 21 DTP; 2) Exemptions to the collection of Article-21 PPh; 3) Article-25 PPh installment relief; 4) Extensions of PPh final construction service DTP incentives; 5) PPh final UMKM DTP incentives; 6) Acceleration of value-added tax restitution.
- The government is also currently formulating a spending and financial support policy for businesses that will hopefully ease the burden currently being placed upon debtors against a backdrop of the ongoing global pandemic. The policy is also being aimed at maintaining debtor performance, as well as the overall stability of the financial system. (ANT)
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