JAKARTA, July 8 (Reuters) - Indonesia's planned international financial centre will attract up to about 500 trillion rupiah ($27.79 billion) in investment, a senior finance ministry official said on Wednesday.
o Investments for the project could come in a range of 300 trillion rupiah to 500 trillion rupiah, official Herman Saheruddin told reporters.
o "The potential investment could be in the form of setting up new branches of foreign banks or new business entities," he added.
o The location of the proposed centre has yet to be decided.
o Indonesia is currently deliberating a bill that regulates the financial centre project, including its tax and legal benefits.
o According to earlier discussions between lawmakers and economic experts, some of the proposed tax benefits could be full exemption of corporate income tax for businesses and value-added tax exemptions on goods and services inside the centres.
($1 = 17,990.0000 rupiah)
(Reporting by Stefanno Sulaiman; Writing by Fransiska Nangoy; Editing by Martin Petty)
