Indonesia's Income Tax not Attractive for Foreign Investment: KADIN

The Indonesian Chamber of Commerce and Industry (KADIN) said that the country's income tax is not attractive for foreign investment, according to local media Saturday.

Basically, tax incentives were not as attractive as the government's upholding law enforcement, friendly tax system and sufficient infrastructure, the Bisnis Indonesia daily quoted Committee Chairman for Tax of the KADIN Prijohandoyo as saying.

Tax incentives were only half done for achieving the goal, which is attracting foreign investment to Indonesia.

In early September, the Indonesian Industry Ministry said that it would give 20 industrial groups fiscal incentives by cutting their income taxes by 30 percent for six months. Besides, it also planned to impose reformed deregulation to ease the complicated bureaucracy.

Source: CRIEnglish