Tax Holiday for Investment in The New Capital City of Indonesia
The Indonesian government has been contemplating a relocation of the country’s capital from Jakarta to Nusantara. The development of the new capital requires substantial private investment, and the government is incentivizing such investment with the recently enacted Government Regulation Number 12 of 2023 on the Provision of Business Licenses, Ease of Doing Business, and Investment Facilities for Businesses in the Nusantara Capital City (“GR 12/2023”).
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