Valid November, Sri Mulyani Opens Voice About Incentives For Buying Free Houses VAT

Minister of Finance Sri Mulyani (Photo; Doc. Antara)

JAKARTA - The government continues to encourage efforts to strengthen the property sector in maintaining the economy. This is at a time when increased uncertainty risks such as the slowdown in the global economy, and the impact of El Nino.

Finance Minister Sri Mulyani said the policy was with VAT borne by the government (DTP) for the purchase of commercial new houses and low-income people's houses (MBR) for under Rp. 2 billion.

"VAT will be borne by the government for the sale of new houses because it is to spend the existing stock. For the November period this year until June 2024, there are around 8 months and VAT borne by the government is 100 percent. This means that VAT is not collected for the purchase of new houses under Rp. 2 billion," Sri Mulyani said in a press statement from the October 2023 edition of the APBN., Wednesday, October 25.

Sri Mulyani said that for the next period, from July to December 2024, the VAT borne by the government was 50 percent.

"We hope that in the second half the world conditions will be relatively more focused and our economic condition has been maintained and resilient, and the recovery has started to run, so we are doing tapering," said Sri Mulyani.

Sri Mulyani hopes that this policy can boost the property and housing sector in terms of buyers and developers.

"We also decided to increase the threshold price of houses that can be purchased by MBR, which is said to be subsidized. Namely to Rp350 million for both landed houses and flats. In this case, all houses under Rp350 million get administrative cost facilities and also VAT," he explained.

On the other hand, Sri Mulyani said that with this policy package, Indonesia's economic growth could be maintained at 5.06 percent in the fourth quarter of 2023.