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Summary of Incentives in ASEAN 2025

Core Content Overview

This document provides a comprehensive analysis of tax and investment incentive regimes across several ASEAN countries, with a focus on Indonesia. It outlines the types of incentives available, the application processes, eligibility criteria, and the impact of these incentives on foreign direct investment (FDI) and economic growth. The fourth edition reflects the evolving landscape of incentives in response to global economic shifts and regional development goals.

Main Countries Covered

• Indonesia
• Laos
• (Other countries in the ASEAN region are also mentioned but the document focuses primarily on Indonesia.)

Key Points of the Incentive Regime in Indonesia

1. Incentive Types

• Tax Allowance: Reduction of net income by 30% of total investment, spread over six years.
• Tax Holiday: Reduction of corporate income tax (CIT) for new investments or expansions in specific sectors.
• Labor-Intensive Industry Tax Concession: 60% investment allowance over six years.
• R&D Super Deduction: Up to 300% super tax deduction for eligible R&D activities.
• Apprenticeship, Internship and Teaching Activities Tax Concession: Up to 200% super tax deduction.
• Special Economic Zone (SEZ) Incentives: Includes tax holidays, tax allowances, and indirect tax benefits.
• IKN (Nusantara Capital City) Specific Incentives: Additional tax benefits for investments in the capital city and partner areas, including:
  • 100% CIT reduction for capital investment of IDR 10 billion or more.
  • 100% CIT reduction for financial institutions investing in IKN and partner areas.
  • 100% CIT reduction for head office and regional office establishment or relocation.
  • 250% and 350% super deductions for apprenticeship, internship, and teaching activities, and R&D activities respectively.
  • 200% super deduction for donations and funding to public, social, or non-profit facilities.
  • 0% final income tax for micro, small, and medium enterprises with low gross turnover.
  • 100% CIT reduction on land and building transfer.
  • VAT and customs incentives for strategic goods and services in IKN and partner areas.

2. Eligibility Criteria

• Pioneer Industries: Defined by specific industry codes and scoring guidelines that assess value-added, local content, and technology.
• Minimum Investment Thresholds: Vary depending on the type of incentive and the sector.
• Timeframe: Tax holidays and allowances are generally valid for 5–20 years, depending on the investment size and sector.
• Application Process: Requires approval from the Ministry of Finance, typically via the Online Single Submission (OSS) system.

3. Application Process

• Applications are submitted through the OSS system.
• The application is forwarded to the Minister of Finance for decision.
• The approval must be obtained for the tax incentives to apply.
• For R&D super deduction, the National Innovation Research Agency (BRIN) evaluates the proposal.
• Offline applications are possible if the OSS system is unavailable.

4. Key Assessment Parameters

• High total investment or export-oriented investment
• Local manpower utilization
• High level of local content

5. Additional Considerations

• Taxpayers are required to submit periodic realization reports.
• There are provisions to prevent claiming multiple tax incentives for the same project.
• The Core Tax System has been implemented to increase transparency and efficiency in tax administration.

6. Future Outlook

• The Indonesian government continues to review and refine tax incentives, especially in light of BEPS 2.0 Pillar 2.
• The Core Tax System aims to make the process more effective and flexible.
• The region's economic resilience and strong FDI inflows are expected to maintain its global economic position.

Laos Incentive Regime Overview

1. Incentive Types

• Corporate Income Tax (CIT) Incentives: Preferential CIT rates and exemptions.
• Customs Duty and VAT Exemptions: For certain materials and equipment, machinery, and vehicles.
• Land and Rental Fees Exemptions: Depending on the sector or location.
• Negotiable Incentives: Based on location and sector, additional incentives may be negotiated.

2. Eligibility Criteria

• New projects in promoted sectors (e.g., high technology, green agriculture, education).
• New projects in promoted locations (e.g., rural areas, SEZs).
• Concession investment projects (e.g., mining, hydro power).
• Expansion investment projects.

3. Application Process

• Tax incentives are typically claimed via self-assessment.
• Applications are made to the relevant administrative authorities, including:
  • Management committees of industrial and economic zones.
  • Provincial Departments of Planning and Investment or the Ministry of Planning and Investment.
• Local tax authorities may conduct audits and reassess tax incentives.

4. Sovereign Credit Ratings

• S&P: BBB with stable outlook (30 July 2024)
• Moody's: Baa2 with stable outlook (16 April 2024)
• Fitch: BBB with stable outlook (11 March 2025)

5. Competitiveness Index

• WEF Global Competitiveness Index 2024 (Business Dynamism): 27
• Global Sustainability Competitiveness Index (GSCI) 2021: 45
• IMD World Digital Competitiveness Ranking 2024: 27
• INSEAD Global Talent Competitiveness Index 2023: 80

Conclusion

The document emphasizes the importance of incentives in attracting FDI and driving economic growth in ASEAN. Indonesia's incentive regime is particularly detailed, with a variety of tax and non-tax benefits aimed at promoting specific industries, sectors, and locations. The regime is becoming more structured, with formal eligibility criteria and streamlined application processes. Laos also offers a range of incentives, though the details are less comprehensive compared to Indonesia. Both countries are part of a broader ASEAN effort to remain competitive in the global economy by leveraging incentives to attract investment and foster innovation.