Indonesian Government Ratifies the Indonesia International Financial Center Law

The Republic of Indonesia House of Representatives approved the Law Draft of Indonesia International Financial Center (PFII) into a law in the DPR Plenary Meeting on Tuesday (21st July) and has started the implementation phases after legal standing, including the regulation for the organizer and location set up in Bali with the expectation to start the operation this year. The Indonesian Government and DPR stated that the tax incentive provided will be in line with the 15% global tax commitment for multinational companies with consolidated revenue of at least  €750 million.