IKN: Shaping to be Tax Haven for Corporate Taxpayers

In 2023, the Indonesian Government issued Regulation No. 12 of 2023 (“Regulation 12/2023”) on Business Licensing, Ease of Doing Business and Investment Facilities for Business Actors in the Capital City of Nusantara (Ibu Kota Nusantara – “IKN”), which specifically addresses the issuance of business licenses, ease of doing business and various investment facilities and incentives that are available to business actors that engage in business activities within IKN and certain regions of Kalimantan as a part of the IKN economic superhub (“Partner Regions”).[1]