INDONESIA LOOSENS PERMITS ON TAX AMNESTY
The Indonesian government has declared that it is loosening permit requirements on the tax amnesty programme, with hopes that the nation’s industrial complex construction sector will decline at a slower pace this year.
Gusti Rahayu Anwar, senior research analyst at BSI Asia, recently said the plans for making things easier for tax amnesty participants will hopefully stimulate the construction business.
“[ The government’s] ease of doing business scheme and the success of the tax amnesty [programme] in 2016 is expected to boost the construction business, especially in the industrial sector,” Anwar said.
In addition, she also revealed that the government’s tax amnesty programme has drawn over Rp.100 trillion in repatriated assets from abroad that could be invested in domestic construction projects.
This year, it is predicted that the industrial construction sector’s growth would see more existing manufacturers who wish to reach their full capacity. According to Ferry Salanto, senior associate director at property consultancy firm Colliers International Indonesia, the nation will see several areas with the greatest potential for development.
“Regions with the most potential for development are Karawang with an area of 2,500 hectares, Tangerang with almost 1,500 hectares, Serang’s 1,000 hectares and Bekasi [with] less than 1,000 hectares,” Salanto said, as reported by Jakarta Globe.
Salanto also revealed that Bekasi would be the area with the highest price for industrial construction projects this year.