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Indonesia to Waive VAT on New Homes to Spur Property Sales
Bloomberg
3/1/2021
Grace Sihombing and Arys Aditya
© Bloomberg
Workers labor in front of residential buildings in the Bumi Serpong Damai (BSD) City area of Tangerang, Banten, Indonesia, on Saturday, Aug. 11, 2018. As Wednesday s policy decision approaches, Bank Indonesia finds itself under pressure to raise the benchmark rate again even after increasing it by a combined 100 basis points since mid-May to stem a slide in the currency.
(Bloomberg) Indonesia will waive value-added taxes on new home sales, its latest move to spur property investments and jumpstart economic activity.
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The government will shoulder the VAT on new landed houses and apartments priced below 2 billion rupiah ($140,300), while VAT will be reduced by half for properties costing 2 billion to 5 billion rupiah, Finance Minister Sri Mulyani Indrawati said Monday. Buyers can use the pe ....

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