Indonesia MOF Announces Extension of VAT Incentive for New Residential Houses, Apartments Due to Coronavirus

The Indonesian Ministry of Finance Aug. 12 announced an extension of the VAT exemption on the delivery of new residential houses and apartment units to December from August, due to the coronavirus pandemic. The extension includes: 1) a 100 percent exemption for houses and apartments with a maximum selling price of 2 billion Indonesian rupiah (US$139,044); and 2) a 50 percent exemption for houses or units with selling prices between 2 billion rupiah and 5 billion rupiah (US$347,679). [Indonesia, Ministry of Finance, 08/12/21]

Reference:
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