The
capital market has long been known in Indonesia, namely at the time of
colonization of the Netherlands. This can be seen from the establishment of the
stock exchange in Batavia which was organized by the VerenigingVoor de
Effectenhandel on December 14, 1912, although the goal was initially to muster
the funds to develop the plantation sector in Indonesia. Investors who lodges
was the indian and europeans, the netherlands and while merchantable effects
are stocks and bonds belonging to the dutch company in indonesia and published
government dutch indies.
The
capital market rapid, opened Surabaya stock exchange on 11 january1925 and the
stock exchange in Semarang the 1st august 1925. The political turmoil in europe
early 1939 come affecting trade effect in Surabaya and Semarang. So that only the Jakarta stock exchange. But
the Jakarta stock exchange finally closed for second world war, which
simultaneously become cessation of activity capital market in Indonesia.
To
encourage capital market, the Government initially gave the tax facilities to
companies that go public and investors as well as supporting institutions
involved as blockers and dealers, but this did not last long. With the issuance
of regulation, taxation 1983 this facility removed, except for income tax on
interest on time deposits and savings futures which had been postponed
collection. Certainly this affects exchange activities become languid. To anticipate it, government issued
deregulation package, packages december 1987 and 1988, package october 1988.
Among the package the big thing, namely dikenakanya income taxes on the
interest savings deposits and other futures 15 % and allowed foreign investors
do access in indonesian markets.
With the
package of deregulation, investment in the capital market back is interesting,
since the imposition of the tax savings will top the final impact on people's
income. Advantage of saving, no longer provide great profits. These matters
encourage people to return investing in capital market. Capital market later
evolved to the present.
By :SitimaghfirotulIsmaya
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