What's New in Business and Economy

Super tax deduction until 300% for R&D pharmaceutical industry

The government provides super tax deduction incentives for research and development (R&D) activities for the pharmaceutical industry. The reduction in gross income of up to 300% of the total costs incurred.

These provisions are as in the Minister of Finance Regulation (PMK) 153/PMK.010/2020 concerning Granting of Reduction in Gross Income for Certain Research and Development Activities in Indonesia. This regulation will take effect as of October 2020. One of the focuses of R&D which can receive a reduction in gross income of up to 300% is pharmacy with research and development of pharmaceutical ingredients, pharmaceuticals for humans, traditional medicine, phytopharmacy industry, extracts and natural ingredients industry, as well as medical and laboratory equipment.

Won't affect Indonesia's position in South China Sea …

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Indoor activities allowed during PSBB transition

Starting today, 12 October 2020, the provincial government in DKI Jakarta and West Java have allowed the indoor activities to reopen during the transitional PSBB period with conditions that must be considered.

The following activities are: watching the film in the cinema, practising in the gym, mall, wedding party in the building, eating at a restaurant, holding meetings and seminars, working in the office, going to the salon, worshipping at a place of worship.

Those activities must follow the regulations such as a maximum of 25% capacity for the theatre, gym, seminar in the building; 50% capacity for the resto, office, worship place, and salon …

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Singapore and Indonesia announce reciprocal green lane; applications to begin on Oct 26

The governments of Indonesia and Singapore are currently discussing Reciprocal Green Lane that will enable cross-border travel for essential business and official purposes to resume between both countries…

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More French cities placed on Covid-19 'maximum alert' level

style="text-align: justify;"> After Paris and Aix-Provence, now the Macron administration added four others in maximum alert status to fight back the coronavirus, surgical strikes with strict new measures to stop the spread of infections. They are Lille, Lyon, Grenoble, and Saint-Etienne. The designation is given to places that have a high number of cases, a high number of cases among vulnerable people and more than 30% of intensive care beds occupied by Covid-19 patients …

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France's economic activity stabilized in September at -5% of its pre-crisis level

The Banque de France, which interviewed 8,500 business leaders, judges that activity was stable in September in industry, services and construction. In addition, the central bank maintains its estimate of a rebound in activity to 16% in the third quarter, after a 13.8% drop in the second quarter. Economic activity in France remained in September at 5% below its pre-crisis level, as in August, confirmed the Banque de France in an economic note published Thursday (08/10). The central bank, therefore, maintains its estimate of a rebound in activity to 16% in the third quarter, after a 13.8% drop in the second. …

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Update as 18 October 2020

After many weeks became the second rank for the worst-hit COVID-19 case in Southeast Asia, this week, Indonesia surpasses the Philippines for total cases in the region. As per 18 October report, we had 361,867 total cases and 12,511 total death. The Health Ministry announced 4,105 new confirmed COVID-19 cases on Sunday, bringing the total number of infections nationwide to 361,867 (+4105); Recoveries: 285,324 (+(3732); Deaths: 12,511 (+80) Active cases: 63,982 (+243) Suspects: 159,715 Samples: 36,378 Jakarta has recorded 93,356 cases since the outbreak and registered the second-highest death toll. DKI Jakarta passes the total cases of Portugal, Japan, Ethiopia and ... China. Now, Indonesia is the first rank in the region. Worldwide, Indonesia ranked 18th place. the five countries reporting most cases are India (7 494 551), Iran (526 490), Iraq (423 524), Bangladesh (387 295) and Indonesia (357 762).

Update 12 October 2020 at 10.00 Jakarta time
Source: Bank Indonesia

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