China Risun Group Limited (“China Risun”, or the “Group”, stock code: 1907.HK), a leading global integrated coke, coking chemicals and refined chemicals producer and supplier and relevant operation management services provider in China announced that Risun Weishan New Energy (Indonesia) Limited ("Risun Weishan") was granted approval again to enjoy the “10-Year Exemption and Additional 2-Year 50% Reduction of Corporate Income Tax” (the “Tax Holiday Facility”) and received the relevant certificate, marking the high recognition of Risun Weishan's investment and development in Indonesia by the local government.
Risun Weishan has placed high emphasis on the Tax Holiday Facility. The Company meticulously prepared all the necessary documents, explained the nature of its business, answered tax inquiries and assisted on-site inspections by tax bureau officials, carefully following up things every step of the way. Based on the detailed, objective, and comprehensive presentation of the standard application materials required, the tax bureau fully acknowledged Risun Weishan’s attributes as an industry pioneer and investment amount, thus has continued to grant Risun Weishan the Tax Holiday Facility in accordance with the KESATU regulation in Indonesia. Therefore, Risun Weishan will be continued to enjoy the following tax incentives starting from the 2023 tax year: 100% deduction of payable corporate income tax in the first ten tax years; 50% deduction of payable corporate income tax in the following two tax years after the first 10 years; exempting third parties from deductions on the income of taxpayers and income tax collection from major business activities, and the exemption period is based on the applicable period of corporate income tax reduction.
With the above preferential policies, the Group can not only save on cash input but also further strengthen its competitive advantages in pursuing global expansion. At the same time, during the process, it has gained valuable experience in the process of overseas business deployment and internationalization, including how to optimize overall planning and how to reasonably consolidate its efforts in order to effectively secure external support and create a favorable environment, which provides important references for the Group’s future development.
