Update - Indonesia Publishes New Regulation on Pioneer Industry Incentive

Indonesia has published Regulation No. 35/PMK.010/2018 from the Ministry of Finance, which provides for a new tax holiday incentive scheme for investments in eligible pioneer industries.

The Tax Holiday Incentive

The regulation provides that a tax holiday (exemption) will be available for new investments in qualifying pioneer industries for a set number of years depending on the investment amount as follows:

• a 5-year tax holiday if the investment is at least IDR 500 billion, but less tha…