balinews
[B]The Indonesian government has revised its luxury goods tax policy for luxury property making Bali, Indonesia's top tourist destination, even more attractive to overseas buyers.[/B]Previously, apartments with a selling price of at least IDR 10 billion ($700,000) and houses with a selling price of at least $1.4m were subject to a 20% luxury goods tax. The latest revision has now raised the minimum price of the property to $2.1m for all types of property."This is a big change," said Georg Chmiel, executive chairman at Juwai.com, a Chinese website for buyers overseas property. "Foreigners have the right to possess property for up to 80 years and are much less likely to pay 20% sales tax when selling. We expect demand to increase," he told SCMP.[URL unfurl="true"]https://www.internationalinvestment.net/news/4004705/bali-attract-overseas-property-buyers-indonesia-revises-luxury-tax[/URL]
