Indonesia will allow companies to delay corporate tax payments for six months


Indonesia will waive income tax for individuals and allow companies to delay corporate tax payments for six months as part of a second economic stimulus package aimed at countering the impact of the coronavirus. The tax incentives will be effective from April 1, Finance Minister Sri Mulyani Indrawati told reporters in Jakarta Wednesday. The government will ease import rules for more than 750 goods and defer the income tax liability on certain importers for a six-month period, she said. The tax breaks are in addition to the first stimulus package worth $745 million announced last month as policymakers in Southeast Asia’s biggest economy seek to counter the epidemic that’s already rattled markets and undermined growth prospects. (Bloomberg)

President Donald Trump said he will significantly restrict travel from Europe to the U.S. for the next 30 days, the most far-reaching measure yet in the administration’s efforts to combat the spread of coronavirus. Trump, speaking Wednesday evening from the Oval Office, said the restrictions, which won’t apply to the U.K., will go into effect Friday at midnight. He blamed the European Union for not curbing travel from China in the early days of the outbreak and credited his own measures with having limited the number of cases in the U.S. (Bloomberg)

Source: Danareksa Sekuritas Debt Research