IN­DONE­SIA LOOSENS PER­MITS ON TAX AMNESTY

Indonesia Expat - - BUSINESS PROFILE -

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.

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