Indonesia reinstates full tax break for property purchases until December

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JAKARTA : Indonesia plans to reinstate the full tax break on property purchases worth up to 5 billion rupiah ($323,000) for the second half of 2024 to help support demand, its chief economic minister said on Tuesday.

A worker walks at a construction site during dusk in Jakarta, Indonesia, April 4, 2019.

Before Tuesday's change, the policy of covering 100 per cent of the VAT component had ended in June and the government was only rebating 50 per cent of the tax until the end of the year.

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Category: EconomyBusiness

Markets: SingaporeIndonesia

Topics: Economic Jakarta Support Rupiah Billion Chief Indonesia Policy 2024 Minister Tuesday

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-27 @ 15:42:45 (6 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 200 words

Reading Time: 2 minutes read

Sentences: 8 lines

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Copyright Owner: © Channel News Asia

News ID: 22276976

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