- Indonesia will offer up to 0% income tax incentives for exporters that fully comply with rules to place foreign exchange earnings from natural resource exports in domestic financial systems.
- Non-oil and gas exporters must deposit 100% of export proceeds in special domestic accounts for at least 12 months; oil and gas exporters must place at least 30% for at least three months.
- The tax benefit depends on how long the funds are placed, and is more favorable than regular instruments that can face up to 20% tax.
- Export proceeds must generally go through Himbara state-owned banks, with foreign exchange-to-rupiah conversion capped at 50%.
- Some exporters with bilateral trade agreements may place up to 30% in non-Himbara banks for up to three months.
Source: en.antaranews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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