Real Estate Indonesia chief wants VAT waiver on new homes extended for another year

Jakarta

THE largest property developer association in Indonesia is urging the government to consider extending its temporary waiver of value-added taxes (VAT) on new home sales again, this time for another 12 months.

This tax incentive first came into effect in March this year and was due to expire in August, but this deadline was later pushed back to Dec 31 in an effort to spur the construction and property sectors during the ongoing coronavirus pandemic.