TEMPO.CO, Jakarta - The Government is completing the revision of a Minister of Finance Regulation on tax holiday. The new regulation is planned to be a form of reduction in income tax at a maximum of 100 percent. Reduced corporate income tax is payable for 5-15 years. This tax reduction can reach 20 years with the approval of the Minister of Finance.

"The consideration not only the sector, but the amount of investment," said Finance Minister Bambang Brojonegoro in his office, Thursday, July 23, 2015.

Later, requirements of receiving tax holiday in the new regulation will be more qualitative. In addition to the value of the investment, the industry that can significantly reduce imports will be considered. "It will be considered on a case-by-case basis," he said.

Especially for the industrial machinery and telecommunications with planned investments between Rp 500 billion and Rp 1 trillion, will be given a maximum corporate income tax reduction of 50 percent. Capital investment plan of more than Rp 1 trillion may be granted a reduction in tax of 100 percent.

In the revised tax holiday regulation, industries covered will be increased from five to nine.

In the new regulation, tax holiday that are rejected can be given tax alowance. Except for the fully private infrastructure sector.

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