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Government prepares regulation to target natural resources export proceeds

09 November 2018 04:19 PM  Company: []
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JAKARTA - The Indonesian government continues to try to attract exporters to bring export proceeds to the domestic financial market.

After simplifying the scheme of withholding income tax (PPh) on deposit interest originating from export proceeds, the government is currently designing a new regulation in the form of a Government Regulation (PP) specifically for the Natural Resources export proceeds.

Director of Taxation Regulation II Directorate General of Tax Ministry of Finance (Yunirwansyah said the draft PP is still being discussed with various other institutions, including the Coordinating Ministry for Economic Affairs. Through this policy, the government wants natural resource export proceeds abroad to enter the Indonesian financial market.

"So, what is regulated is export proceeds for natural resource exports. What is in the previous provisions is generally only," Mr Yunirwansyah told Bisnis Indonesia, Friday (9/11).

However, Mr Yunirwansyah said the incentive scheme is still being matured so that it cannot be seen in detail yet. (MS)