Indonesia to Release LCGC Regulations By End of March 

(Insider Stories) - Indonesia will be releasing regulations of the Low Cost Green Car (LCGC) in the next two weeks, industry minister MS Hidayat said on Friday.

LCGC producers will enjoy zero percent value added tax, according to the minister. Currently, the government charges 10 percent VAT for goods produced in Indonesia.

PT Toyota Astra Motor (TAM) and PT Astra Daihatsu Motor will produce 5,000 – 6,000 units per year, according to Johnny Darmawan, the president director at TAM and deputy chairman at Indonesian Automotive Industry Association (Gaikindo).

Johnny was upbeat national car sales can hit 1.2 million units this year.

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