The Minister of Finance (“ Minister ”) recently issued Regulation No. 35/PMK.010/2018 on Corporate Income-Tax Deductions (“ Regulation 35/2018 ”) with the ultimate objective of further boosting economic growth by encouraging more direct investment in pioneering industries throughout Indonesia. [1] Regulation 35/2018 sets out various technical provisions on tax deductions for income (also known as a tax holiday) which is generated by corporate taxpayers who are investing in various pioneering industries [2] and specifically addresses the following matters:
New Regulation on Corporate Income-Tax Deductions
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