Indonesia gives tax break to makers of personal protective equipment

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Manufacturers will be able to offset 30% of their production costs between March and September this year against their taxable income, according to the new regulation, uploaded on the tax department’s website.

The tax break applies to makers of surgical and N95 masks, gloves and antiseptic hand sanitizers, ventilators, reagents for diagnostic tests of COVID-19 and disinfectants. They include companies such as Unilever (NYSE:UL) Indonesia (JK:UNVR), Pan Brothers (JK:PBRX) and Kimia Farma (JK:KAEF).

Indonesia reported 1,041 new cases of coronavirus on Friday, taking the total so far to 43,803, with 2,373 deaths.