Indonesia offers more tax breaks to boost jobs, growth

9th July, 2019 10:04:05 printer

JAKARTA: Indonesia on Tuesday rolled out corporate tax breaks for labour-intensive industries and Research and Development (R&D) investments in a bid to create jobs in Southeast Asia's biggest economy.

They are part of a series of tax measures aimed at boosting investment and accelerating economic growth amid signs that the government's 2019 growth target of 5.3 per cent may be hard to reach, reports Xinhua.

President Joko Widodo has made developing Indonesia's human capital one of his main priorities after winning a second term in office in April. Under the new regulations posted on Tuesday, a company can deduct from its taxable income 60 per cent of a new investment in or expansion of a labour intensive business.