Taxes on import of non-fiction books to be scrapped
THE Finance Ministry will soon issue a regulation that will eliminate value-added tax (VAT) and income tax for the importation of non-fiction books, which accounts for around 10 to 20 percent of the book price, a move that is expected to help the public afford international resources deemed beneficial for domestic development.
"The state gains little from taxing imported books. So why should we maintain the policy if scrapping the taxes could actually create bigger gains in terms of knowledge and perspective. We expect the public could soon afford books that are actually beneficial for development", the Finance Minister said.
This is the latest development in Indonesia.