Story perspectives

Parliamentary Panel OKs Finance Centre Bill, Aims $27 B Gains

7/20/2026

Summary

Story summary

The parliamentary panel approved key provisions for a bill to establish international financial centres.
The finance ministry estimates the bill could draw 300-500 trillion rupiah ($16.7-27.82 billion) and offers a 50-year tax holiday, foreign-source income and VAT exemptions, plus inheritance-tax rules.
The bill creates an arbitration body and a court, with the governing body reporting to the president and parliament.
A parliamentary vote is set for Tuesday after scrutiny began on July 2.

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Story summary

The parliamentary panel approved key provisions for a bill to establish international financial centres.
The finance ministry estimates the bill could draw 300-500 trillion rupiah ($16.7-27.82 billion) and offers a 50-year tax holiday, foreign-source income and VAT exemptions, plus inheritance-tax rules.
The bill creates an arbitration body and a court, with the governing body reporting to the president and parliament.
A parliamentary vote is set for Tuesday after scrutiny began on July 2.