Indonesia to Introduce New Tax Holiday Incentives for Pioneer Industries

According to recent reports, the Indonesian government is planning to introduce new tax holiday incentives for eligible pioneer industries. The current incentives will be simplified with a five-year tax holiday (100% exemption) for qualifying investments over IDR 500 billion, and a twenty-year tax holiday for investments over IDR 1 trillion. After the exemption period ends, a 50% reduction in the tax rate will apply for two years. In addition, the scope of eligible industries will be expanded…