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Indonesia govt plans to scrap VAT for shipyard industry

JAKARTA (Rambu Energy) – Coordinating Minister for Maritime Affairs Indroyono Soesilo said the government is preparing a draft regulation that will scrap the value added tax (VAT) for shipyard industry.

“The move is aimed at optimizing and accelerating the development of domestic shipbuilding industry,” Soesilo was quoted by Kompas daily as saying. The minister made the statement after holding a coordinating meeting with Finance Minister Bambang Brodjonegoro, Industry Minister Saleh Husin as well as related parties.

He said the government will revise the Government Regulation (PP) No 38, 2003 on VAT for Shipyard Industry.

At present, the Finance Ministry is drafting a regulation on imported vessel component taxes that will be covered by the government.

The government expects to issue this regulation by the end of this month and begin implementing it in early 2015.

The government’s move was a response to the request of domestic shipbuilding companies to stimulate the development of domestic shipbuilding industries as well as to support the Joko Widodo government’s drive to strengthen the maritime industry. (*)

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