"Tax Holiday" Applicable Quarter III-2011?

Editor: Erland Djumenamake money blog$;JAKARTA, KOMPAS.com - The government pledged technical rules of tax exemption facilities within a specified period or tax holidays will soon be published. Thus, in third-quarter 2011, some investors who are eligible can enjoy this facility.
Head of Investment Coordinating Board (BKPM) said Gita Wirjawan, the first investor will get a tax holiday facility is probably the Pohang Iron and Steel Corporation (Posco). Therefore, South Korean steel company will begin construction in June or July this year. "They started to operate after completion of construction in November-December 2013," he explained on Wednesday (03/30/2011).
According to Gita, to the present fiscal incentives are indeed still in the study of the Ministry of Finance. However, it is certain that Posco will get the facility for the first time. Posco would cooperate with PT Krakatau Steel and ready to invest 6 billion U.S. dollars to build a steel mill.
Besides Posco, BKPM also has filed one more name to the Ministry of Finance to immediately get the fiscal facilities. Investors are Kuwait Petroleum Corporation (KPC) of Kuwait that will build oil refineries (refinery) with Pertamina Balongan in Indramayu, West Java. "We recommend that large and can be realized in the third and fourth quarters," he added.
Besides these two investor, there is heavy equipment manufacturer Caterpillar that also awaits tax holiday certainty before investing in Indonesia. Caterpillar plans to invest 0.5 billion U.S. dollars-1 billion U.S. dollars.
Threatens to leave
Gita reveals, the three investors that have long been pending tax holiday. In fact, added Gita, they threatened to leave if the rules were not being completed by the middle of this year.
Head of fiscal policy (BKF) The Ministry of Finance Bambang Brodjonegoro, who was a deliberation on the rule, said it would quickly as possible to get a tax holiday rules. These rules will form the Ministry of Finance (FMD).
FMD is a derivative of Government Regulation No. 94/2010 regarding calculation of Taxable Income and Settlement of Income Tax in Current Year, published in January 2011 then.
Not all industries can enjoy a tax holiday. The investor must be eligible pioneer industry, creating many more jobs, bring new technology into small and underdeveloped areas, and provide added value to the industry. (Bambang Rakhmanto / Cash) _

source: http://bisniskeuangan.kompas.com

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