This edition highlights another updated regulation regarding the decrease of income tax on the sale of Ultra Luxury Properties.
This is a further attempt from the Indonesian Government to stimulate the growth of property sector in Indonesia after the Minister of Finance has previously increased the limit on the sale of Luxury Properties that is subject to Sales Tax on Luxury Goods (PPnBM) to IDR 30 billion and above through the issuance of PMK No. 86/PMK.010/2019.
© 2021 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.
They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.