Regulations
Very generous tax rules are among the incentives the government is considering to lure global investors to take part in developing the country's inaugural financial hub.
People sit in a South Jakarta park on July 30, 2024, amid sparse greenery with a view of the Sudirman Central Business District (SCBD). (Reuters/Ajeng Dinar Ulfiana)
The government is considering a zero percent tax rate for 50 years as it developing potential fiscal incentives to attract global investors to the planned Indonesia International Financial Center (PFII).Mukhamad Misbakhun, chairman of House of Representatives Commission XI overseeing finance and national development planning, explained that the proposed tax incentive aimed to draw global investments and financial services to put PFII on par with its counterparts in Singapore, Malaysia and Dubai, the United Arab Emirates.
The government was also preparing regulations to provide legal certainty, a simplified monitoring system and prudent governance in the financial sector, he added.
