Indonesia pledges continued tax incentives for foreign investors

Indonesian Investment Minister Bahlil Lahadalia confirmed that his government will keep granting tax holidays to attract foreign investors so long as the global minimum tax (GMT) policy is not yet rendered, local media has reported.

Friday, October 27, 2023 10:49

Indonesia pledges continued tax incentives for foreign investors ảnh 1

Illustrative image (Photo: https://investindonesia.co.id/)

Jakarta (VNA) –Indonesian Investment Minister Bahlil Lahadalia confirmed that his government will keep granting tax holidays to attract foreign investors so longas the global minimum tax (GMT) policy is not yet rendered, local media has reported.

Addressing BNI Investor Daily Summit 2023 in Jakarta on October25, Bahlil stated that tax exemptions are veryimportant and his country will still continue its tax exemption policies.

The GMT rulesserve as a “play thing” for developed countries and are a strategy to attractinvestment to these countries. So, the implementation is not a fair game betweendeveloped and developing countries, he noted.

Previously, Bahlil had requestedthat the GMT rule of 15 % be reviewed because if it is implemented too early,it will disrupt the downstream programme promoted by the Indonesian government.

Meanwhile,Finance Minister Sri Mulyani said many countries were preparing to implementthe GMT agreement. However, Indonesia still applies fiscal incentives to boostinvestment competitiveness.

This willbe one of the global focuses, which is now gradually implementing global taxrules to reduce various tax holidays in order to prevent the race to thebottom, Sri said in a joint meeting with the House of Representatives (DPR)Commission IX recently./.

VNA

#Indonesia #global minimum tax #tax holidays #foreign investor #Vietnamplus #Vietnam news #Vietnam News Agency Indonesia

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