Property Sector — Government extends 100% VAT incentive for property sector

Property Sector — Government extends 100% VAT incentive for property sector The Indonesian government has extended the 100% Value Added Tax (VAT) incentive for the property sector until December 2024. This decision aims to support middle-class purchasing power, which is crucial for economic growth. The extension covers homes priced between IDR2 bn and IDR5 bn, continuing the full VAT incentive initially provided in 1H24. This initiative underscores the property sector's significant impact on the economy due to its high multiplier effect. (Source: Kontan)