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Indonesia's Jokowi approves new list of tax holidays for Nusantara

Capital authority receives 100 letters of intent, including from China, U.S.

Indonesian President Joko Widodo signed a new regulation on March 6 offering tax holidays for investments in Indonesia's planned new capital, Nusantara. (Source photo by AP and Erwida Maulia)

NUSANTARA/JAKARTA -- President Joko "Jokowi" Widodo has approved a new regulation that offers incentives to businesses investing in Indonesia's planned new capital, Nusantara, including tax holidays of up to 30 years and 95 years of land use permits, the head of the Nusantara Authority said Wednesday.

"The government regulation ... outlines the tax holiday, the super tax deduction [and] other facilities that might be enjoyed by investors who want to invest [in] Nusantara. This is fresh from the oven," Bambang Susantono, head of the authority, told reporters during a visit to Nusantara, in Indonesia's East Kalimantan province on Borneo island.

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