Sri Mulyani Says Still Studying The Implementation Of Family Offices In Indonesia

Minister of Finance Sri Mulyani. (Photo: Maria Trisnawati/VOI)

Minister of Finance Sri Mulyani Indrawati revealed that the government is studying the family office scheme from countries that have implemented the scheme because not all countries are able to manage family office investments.

"We will benchmark the centers of family office in various countries. Some are successful and some are not, so we learn from it," he said during a press conference on Launching and Socialization of the Implementation of Nickel and Timah Commodities through Simbara, Monday, July 22.

Regarding the possibility of additional tax incentives, Sri Mulyani said that Indonesia already has a series of tax incentives that can be used to increase state revenues such as tax holidays, tax allowances, and even incentives to support the State Capital (IKN) of the Archipelago.

"When it comes to tax regulations, tax incentives, we have many lessons such as tax holidays, tax allowances, and what we have now given to IKN is also quite a lot, actually in the framework of regulations for providing tax incentives," he said.

Sri Mulyani explained that the Ministry of Finance is still waiting for discussions regarding the plan to implement a family office scheme within the government.

Bearing in mind, there is Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) so that it opens up space for new incentives in the tax sector.

"So later we will see the progress of the family office discussion itself. There is a Law on the Development and Strengthening of the Financial Sector (UU P2SK) as well as in terms of the Law on Harmonization of Tax Regulations (HPP), where we can provide in accordance with the laws and regulations in the field of taxation," he explained.