Bisnis, JAKARTA — A 12% value-added tax (VAT) will be applied to goods and services categorized as luxury items. President Prabowo Subianto highlighted that this includes luxurious houses.
VAT 12% to Have Minimal Impact on Luxurious Property
The increase in VAT to 12% on landed houses and ultra-luxury condominiums valued above IDR 30 billion is expected to have little impact on sales. This is attributed to the resilience of the luxury property market, which typically fares better than the housing market for middle-upper to middle-lower
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