“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Tuesday, October 28, 2008

Govt to end VAT, luxury tax and duties in FTZs

Mustaqim Adamrah, The Jakarta Post, Singapore   

The government will soon abolish value-added tax (VAT), luxury tax and import duties on production goods in free trade zones (FTZs) in the Riau Islands province in a bid to stimulate businesses. 

The provincial administration and the customs and excise directorate general have finalized a draft regulation that will eliminate these taxes and duties in these areas, according to Riau Islands governor Ismeth Abdullah. 

The draft regulation, he said, would henceforth be based on the 2007 law on FTZs, which stipulates that no VAT, luxury tax or import duties on production goods are applied in FTZs. 

"We (the administration), along with the customs and excise directorate general, just finalized the idea (of the draft regulation) this (Thursday) morning," Ismeth told The Jakarta Post recently. 

Customs and excise director general Anwar Suprijadi would submit it within one to two days to Finance Minster Sri Mulyani Indrawati and to President Susilo Bambang Yudhoyono for approval, he said. 

He said the draft regulation, when enacted, would automatically annul the 2003 government regulation on the imposition of VAT and luxury tax on industrial estates in the bonded zone of Batam Island - the province's biggest island. 

He also said the draft regulation would instead help the central government generate more income from corporate income tax as the elimination of VAT and duty would stimulate more trade. 

"I understand the draft regulation may seem to result in lower revenue from VAT, luxury tax and import duties," Ismeth said. 

"However, we could collect bigger revenues from income tax generated from higher frequency of business activities as a result of the tax reductions," he added. 

According to Ismeth, income tax revenue collected from companies in Batam Island alone reached Rp 1.7 trillion (US$171 million) in 2006 and nearly Rp 2 trillion in 2007. 

The draft regulation will also designate particular seaports on Batam, Bintan and Karimun Islands -- the province's FTZs - to channel export and import activities. 

"We'll cooperate with customs officials to record and control goods entering and going out through the future designated ports," he said, adding that each of the three islands were expected to have two ports. 

The Indonesian Chamber of Commerce and Industry (Kadin) chairman, M. S. Hidayat, told the Post he welcomed the draft regulation as it would encourage businesses in the area.$736 billion of assets under management worldwide as of Aug. 31 this year.

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