TEMPO.CO, Jakarta - The government will impose new rules on tax holiday facilities for business individuals. With a minimum investment of Rp20 billion, entrepreneurs can get tax holiday facilities.

A Rp20-billion investment makes a business eligible to five years of 50-percent tax discount. In addition, the government will provide a transition period of 2 years with a tax discount of 25 percent.

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"In the past, the minimum investment to get tax holidays was Rp500 billion. Now, with just Rp20 billion, a business can obtain a (mini) tax holiday," said Elen Setiadi, the Coordinating Ministry for Economic Affairs' expert staff for economic and political, legal and security relations, said as quoted by Bisnis, Monday 17 June.

The rule is stipulated in the planned amendment for Government Regulation (PP) No.96/2015 on the facilities and lenience for Special Economic Zones (SEZ), as well as Government Regulation No.2/2011 on the Implementation of SEZs.

The bill also regulates personal income tax (PPh) for SEZ engaged in services such as education and health. Today, most SEZs develop two zones; industrial and tourism.

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"The improvement of this material aims to ensure that SEZ development governance is carried out quickly and effectively," said Elen, who is also the second deputy of the National SEZ Council's Executive Team.

BISNIS