Indonesia to Waive VAT for House Purchases Below 2B Rupiah

Govt to bear value-added taxes on new house purchases below 2b rupiah to boost property sector and overall economic growth, according to Coordinating Minister for Economic Affairs Airlangga Hartarto after a Tuesday cabinet meeting

• Govt will fully waive VAT on such properties until June 2024
  • Govt to indefinitely bear 50% of VAT after June
• Govt to give 4m rupiah subsidy on low-cost housing purchases

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Chandra Asmara in Jakarta at casmara1@bloomberg.net

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