Indonesia considers slashing VAT on electric car sales to 1% - official

Kitco Media
By Reuters
Published:
Updated:
Reuters
JAKARTA, Feb 1 (Reuters) - Indonesia is considering reducing the value-added tax on electric car sales from 11% to 1% to drive up demand and attract investment, said Septian Hario Seto, a senior official with the investment coordinating ministry. He also said the government would give a cash incentive of 7 million rupiah for every electric motorcycle sold.
(Reporting by Stefanno Sulaiman Writing by Fransiska Nangoy Editing by Kanupriya Kapoor)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.