TEMPO.CO, Jakarta - The Coordinating Minister of Economic Affairs Airlangga Hartarto said the government will soon issue the second phase of the fiscal and non-fiscal stimulus hoped to strengthen the public’s buying power amid the coronavirus (COVID-19) global outbreak.
“This is temporary to improve people’s buying power, to boost supplies, apart from the demand side of things,” said Airlangga on Wednesday following the meeting on the stimulus plan.
The fiscal stimulus will affect the income tax payments (PPh) in Article 21 and suspending the PPh Article 22 and Article 25 on the deferral of corporate tax income and those overseeing business import taxes.
“We will review it in the next six months and see its effects,” said Airlangga.
The government also plans to impose periodic import duties and increase tax refund’s upper ceiling form Rp1 billion to Rp5 billion. Meanwhile, the non-fiscal stimulus is planned to ease imports for importers with favorable reputation which will be done by erasing 749 code HS on restrictions and bans in certain sectors.
The government’s second phase stimulus plan follows the first stimulus that was meant to maintain people’s buying power amid the coronavirus outbreak, which takes form in numerous subsidies for a certain demographic and stimulus for the housing sector and airfare discounts to invigorate Indonesia’s domestic tourism.
ANTARA
