INDONESIA
From Times Staff and Wire Reports
Tax Breaks for Foreign Investors Slated: A new tax law expected to be signed by Indonesian President Suharto later this month will allow government officials to offer tax breaks to foreign investors doing business in Indonesia, the nation’s top economic development official said. In addition to cutting top rates on business and personal taxes from 35% to 30%, the new policy will suspend or reduce tax rates for select foreign investors.
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