In early 2018 the Government, through Ministry of Finance PMK No. 35/PMK.010/2018 (PMK 35), issued a revised regulation concerning its Tax Holiday Program.
PMK 35 provides greater convenience and more flexibility for investors to obtain a Tax Holiday, by revising some of the previous requirements such as such as expansion number of pioneer industries that will obtain tax facility, the lower investment capital requirements compared to the previous regulation and tax facility in the form of a 100% reduction from the amount of corporate income tax payable. After the time period expiration of the tax facility, the Taxpayer will be awarded a reduction of Corporate Income Tax of 50% of its Corporate Income Tax liability for the next two fiscal years.
They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.