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Daily Tax Report: International

Indonesia Explores Oil and Gas Stimulus, Tax Cuts to Lift Output

Nov. 21, 2020, 7:30 AM

Indonesia is open to new incentives to lure investment in the oil and gas sector in a bid to hit the nation’s 10-year output target, according to the industry regulator.

The government is considering revisions to the oil and gas regulations, including tax cuts and tax holidays, SKK Migas said in a statement late Friday.

Southeast Asia’s largest economy hopes the incentives can attract new exploration and help tackle challenges of aging oil fields and difficult working areas. Weak crude oil prices have forced Indonesia to lower its oil and gas investment target to $11.1 billion this year, from $13.8...

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