Govt. to Grant Net Income Deduction Facilities for New Investments in Labor-Intensive Industries

In order to implement Regulation of the Government No. 94 of 2010 on Calculations of Taxable Income and the Settlement of Annual Income Tax, as amended through the issuance of Regulation No. 45 of 2019 (“ Regulation 94/2010 ”), [1] the Minister of Finance (“ Minister ”) has issued Regulation No. 16/PMK.010/2020 on the Granting of Net Income Deduction Facilities for New Investments and Business Expansions within Certain Business Sectors Classified as Labor-Intensive Industries (“ Regulation 16/2020 ”).