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Indonesia showers property buyers with waivers to spur economy
Published Tue, Jun 25, 2019 · 09:50 PM
Jakarta
INDONESIA slashed income tax on the sale of luxury properties in the latest bid to spark a revival in its stagnant property sector and support growth in South-east Asia's largest economy.
The tax on income from sales of luxury houses and condominiums priced at 30 billion rupiah (S$2.87 million) or more was reduced to 1 per cent from 5 per cent, according to a statement issued by the Cabinet Secretariat on Tuesday.
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