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Limit for Property's Luxury Tax Has Changed

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  • Limit for Property's Luxury Tax Has Changed


    Luxury tax of 20% will only be applied for houses and flats worth Rp30billion (US$1.4 million). President Joko Widodo have announced this information in June. Before, the luxury tax applied for properties worth over Rp20billion.


    President Jokowi goals about this new luxury tax is to boost economic growth, by making Indonesia more attracting and more welcoming foreign investors. Executive Chairman at Juwai.com, Georg Chmiel, really agree with this renewed luxury tax.


    Foreigners are now allowed to rent properties for an initial period of 30 years, with a subsequent extension of 20 years, followed by another 30 years in Jakarta.



    http://bit.ly/luxury-tax-applied-to-...eign-investors

  • #2
    At the current exchange rate, 30 billion Rupiah is a little more than 2.1 million USD, not $1.4 million.

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    • #3
      Originally posted by Elmi Mufidah View Post
      (1) ... President Jokowi goal about this new luxury tax is to boost economic growth, by making Indonesia more attracting and more welcoming foreign investors ...

      (2) Foreigners are now allowed to rent properties for an initial period of ... in Jakarta.

      (1) "... Between June and August 2019, 33 Chinese companies announced plans to set up or expand production abroad, of which 23 are going to Vietnam and the remaining 10 to Cambodia, India, Malaysia, Mexico, Serbia and Thailand, according to the World Bank ... It highlighted lengthy procedures businesses must endure to operate in Indonesia as the primary reason for the lack of foreign direct investment coming to the country ..."
      From https://www.thejakartapost.com/news/...orld-bank.html , Sept 2019

      (2) You should say :
      - ... allowed to hold "Hak Pakai"(Right to Use) property's "ownership" title , which is a kind of temporary ownership (with other limitations for foreigners) .
      - Applicable to all Indonesia , not only Jakarta .


      http://www.livinginindonesiaforum.or...-house-in-indo (About Hak Pakai for Foreigners)
      Last edited by marcus; 4 days ago.

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