Tax on apartment houses<\/p>\n
JAKARTA (JP): In addition to the 10 percent Value Added Tax
\n(VAT), the sale of apartment houses of more than 150 square
\nmeters will also be subject to a luxury tax of 10 percent.<\/p>\n
Tax Director General Fuad Bawazier said yesterday that the
\nsales tax on the transfer of such apartments, enacted with the
\nMinister of Finance Decree No. 644\/KMK.04\/1994 issued last
\nDecember, became effective in January of this year.<\/p>\n
He said, however, that if a buyer had settled payment for such
\nan apartment before June 21, he or she is not required to pay
\nthat tax to the seller nor must it be stated in a tax return,
\nprovided that the seller has already paid the VAT on the sale.<\/p>\n
If the seller has not paid the VAT, the seller will bear the
\nresponsibility of paying that tax obligation, Fuad said in a
\ncirculation letter issued to clarify the collection of the sales
\ntax on luxurious goods and apartment houses.<\/p>\n
He said that if the buyer did not pay off the apartment by
\nJune 21, he is required to pay the luxury tax at a rate
\ncalculated on the basis of the remaining installments.<\/p>\n
Fuad said that the tax rebate will only affect the apartments
\nsold in or after January.(hen)<\/p>",
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"sponsor": "Okusi Associates",
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