That is one of various incentives being offered to get businesses to support the billion dollar move of the capital. Read more at straitstimes.com.
JAKARTA - Indonesia is unveiling a slew of tax breaks to lure companies and people to move to itsBanks and insurers operating in Nusantara – as the capital is known – would pay no income tax for up to 25 years if they invest before 2035, according to an investment ministry presentation seen by Bloomberg. Those investing before 2045 can get up to 20 years of tax break.to get businesses to support President Joko Widodo’s 600 trillion rupiah plan to move the nation’s capital from bustling Jakarta.
The incentives would only be offered until 2045, when Nusantara is set to be completed. “If we keep giving tax cuts, then where do we get money to build the area’s infrastructure? This is only fair, boss,” he said. The government has started building basic infrastructure at the new capital, including a water dam, roads and presidential and vice presidential buildings. The target is for public officials to begin relocating there next year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indonesia's new football association committee vows to overhaul ecosystem of the sportThe new committee is headed by Minister of State-owned Enterprises Erick Thohir.
Read more »
Indonesia plans to narrow 2024 fiscal deficit, sees higher GDP growthJAKARTA : Indonesia expects to bring its budget to a narrower fiscal deficit next year, even as its economic growth is predicted to accelerate, senior officials said on Monday, as President Joko Widodo aims to finish its remaining infrastructure projects.Indonesia recorded a 464.3 trillion rupiah ($30.64
Read more »
Analysis:Indonesia's renewed dalliance with global bond investors may be briefSINGAPORE : A sudden surge of foreign interest in Indonesian bonds may be reaching a peak, as investors see local interest rates holding steady while the outlook for U.S. rates again rises.Also, analysts say, many investors have already bought the larger holdings of Indonesian bonds they sought in four mo
Read more »
Indonesia's posts $6 billion budget surplus in January - Finance MinisterJAKARTA : Indonesia had a 90.8 trillion rupiah ($5.97 billion) budget surplus in January or 0.43 per cent of gross domestic product, as a risk of lower economic growth this year still lingers amid a global economy slowdown, finance minister Sri Mulyani Indrawati said on Wednesday.Government revenues in Ja
Read more »
China's top diplomat arrives in Moscow for talks on Ukraine: ReportBeijing seeks to broker a peace plan for Ukraine. Read more at straitstimes.com.
Read more »