The Government Ensures That Tax Holiday And Tax Allowance Incentives Will Continue In 2024
Minister of Finance Sri Mulyani in a press conference on the State Budget for Performance and Facts (KiTa). (doc the Ministry of Finance)

JAKARTA - The government ensures that it will continue to provide fiscal stimulus in the form of tax incentives to the business world next year.

Finance Minister Sri Mulyani said that several fiscal incentives would be maintained, such as tax holidays and tax allowances by the government next year and the criteria would also remain unchanged from the previous policy.

"If the stimulus that has been established is for various activities whose nature is to increase added value, such as tax allowances, tax holidays, that is still the same, the criteria are the same," said Sri Mulyani in her statement, Sunday, December 3.

Sri Mulyani said that there are 18 sectors that can take advantage of the tax holiday and tax allowance incentive programs, ranging from the digital sector to downstreaming and this stipulation is still the same as in 2023.

According to him, this sector is what is deemed necessary to be assisted in its development.

"So if he is included in 18 including the digital sector, downstreaming, then various activities that are considered to have added value and are pioneered or in areas that are deemed necessary to develop, we will still provide. Also, various investment incentive programs that have been agreed with the Ministry of Investment/BKPM," he said.

On the other hand, the government also continues to support stimulation in the permanent housing construction sector. Continuing the program in 2023, tax stimulus with a government-borne value-added tax (PPN DTP) for houses worth under IDR 2 billion is 100 percent until June 2024. Meanwhile, for July to December 2024, the VAT incentive for DTP is 50 percent.

"Then for electric cars, we have also conveyed that at that time there were various tax incentives in order to increase demand and in terms of supply response for investment. So nothing has changed from that side," he concluded.

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