REPUBLIKA.CO.ID, JAKARTA -- Finance Minister Sri Mulyani said that fiscal incentives in the form of tax cuts to industries that undertake vocational education and training activities as well as for building research and development centers (RnD) in Indonesia are targeted to be completed in March 2019. She asserted that the policy has nothing to do with the election held on April 17 where the incumbent President Joko Widodo is seeking for a second term.

"But the point is that it has been "in the pipeline." It has been around since the beginning of the year or even the end of last year. So hopefully, it can be finished this March," Mulyani stated in a press conference at the Directorate General of Tax's Head Office, Jakarta, on Tuesday.

The former managing director of the World Bank remarked that the formulation for the "super deductible tax" has been completed and is about to be finalized. "All the formulations for super deductible tax for vocational and super deduction for research and development have been made available," Mulyani remarked.

According to her, the Ministry of Finance is cooperating with relevant ministries and institutions, and if the harmonization process runs quickly, then these incentives will be launched in the near future.

"If harmonization between the ministries/government institutions is fast, then usually we will be able to do it quickly. The initiator from the ministry, such as the minister of industry, is also fast," she explained.

Meanwhile, Head of the Fiscal Policy Agency (BKF) Suahasil Nazara revealed that the government would revise the Government Regulation (PP) to be able to implement the "super deductible tax" policy.

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