Four developers in arrears

Four developers in arrears

TANGERANG (JP): Two major real estate developers and two golf
course developers here have not yet paid their 1997 land and
building tax, which reached a total of Rp 1.8 billion, an
official said Tuesday.

"The outstanding tax of the four delinquent developers does
not include fines for the debts or this year's tax," head of the
Tangerang Land and Building Tax Office, Djunaidi said.

He revealed that the Citra Nuansa Seni Housing Complex in
Cikupa owes Rp 400 million, Kota Modern Housing Complex in
Tangerang, Rp 600 million, Gading Serpong Golf Course in Curug,
Rp 200 million, and Pondok Cabe Golf Course, Rp 600 million.

According to Djunaidi, his office would seize the property, as
allowed by existing laws, if the developers fail to immediately
meet the requests to pay the outstanding tax.

Although Kota Modern developer, PT Modern Land Reality, for
example, had been declared bankrupt, executives of the firm
should first fulfill its obligation to the state by paying the
tax. (41/bsr)