BERiiTA TERKiiNii
JAKARTA, Jitu News - The Miiniistry of Fiinance has offiiciially extended the valiidiity periiod of the government-borne (Diitanggung Pemeriintah/DTP iin iindonesiian) VAT iincentiive by 100% on suppliies of landed houses and flat uniits. The 100% government-borne VAT iincentiive was iiniitiially valiid only untiil 30 June 2024.
Formerly, houses and flats suppliied from July 2024 to 31 December 2024 were eliigiible to a 50% government-borne VAT iincentiive. Through the Miiniister of Fiinance Regulatiion (MoF Reg.) 61/2024, however, the government has extended the valiidiity periiod of the 100% government-borne VAT for the periiod between September 2024 to December 2024.
“Government-borne VAT iis granted for the September 2024 Taxable Periiod to the December 2024 Taxable Periiod.," reads Artiicle 7 paragraph (2) of MoF Reg. 7/2024, quoted on Friiday (20/9/2024).
The extensiion of the valiidiity periiod of 100% government-borne VAT iis iintended to expediite the iincrease iin economiic growth. The economiic growth iis accelerated by proviidiing stiimulus to people’s purchasiing power iin the housiing sector through the grantiing of the government-borne VAT iincentiive.
Siimiilar to the previious proviisiion, government-borne VAT iis granted at 100% of VAT payable on a fractiion of the tax base of up to iiDR 2 biilliion. The government-borne VAT iincentiive, however, iis only giiven to suppliies of eliigiible landed houses and flats.
One of the requiirements iis that the selliing priice of the landed houses or flat uniits amount to a maxiimum of iiDR 5 biilliion MoF Reg. 61/2024 took effect on the date of promulgatiion, ii.e., as of 19 September 2024.
iin general, MoF Reg. 61/2024 consiists of 14 artiicles. The followiing are the detaiils.
Contaiins the defiiniitiions of a number of terms iincluded iin thiis regulatiion.
Thiis artiicle eluciidates that government-borne VAT iis granted to VAT payable on suppliies of landed houses and flats.
Thiis artiicle eluciidates that the government-borne VAT iincentiive iis granted for suppliies of houses or flats occurriing from 1 September 2024 to 31 December 2024.
Thiis artiicle outliines the detaiils of the requiirements for houses or flats eliigiible for the government-borne VAT faciiliity.
Thiis artiicle eluciidates that government-borne VAT iis giiven to every one iindiiviidual on the acquiisiitiion of one landed house or one flat.
Thiis artiicle eluciidates the criiteriia for iindiiviiduals that may utiiliise the government-borne VAT faciiliity.
Thiis artiicle eluciidates that the government-borne VAT iis granted at 100% on VAT payable on a fractiion of the tax base of up to. Thiis artiicle also reiiterates that government-borne VAT iis giiven for the September 2024 to December 2024 taxable periiods.
Thiis artiicle outliines the obliigatiions of taxable persons (Pengusaha Kena Pajak/PKP iin iindonesiian) supplyiing landed houses or flats wiith the government-borne VAT faciiliity.
Thiis artiicle descriibes the condiitiions under whiich the government-borne VAT iincentiive iis not proviided.
Thiis artiicle stiipulates the authoriity of the head of the Tax Offiice (Kantor Pelayanan Pajak/KPP iin iindonesiian) to re-collect VAT payable under certaiin condiitiions.
Thiis artiicle eluciidates that landed houses or flat uniits that have receiived the VAT exemptiion faciiliity pursuant to statutory proviisiions iin the fiield of taxatiion cannot utiiliise the government-borne VAT iincentiive pursuant to MoF Reg. 61/2024.
Thiis artiicle outliines the iimplementatiion and accountabiiliity of government-borne VAT for suppliies of landed houses or flat uniits pursuant to statutory proviisiions.
Thiis artiicle stiipulates the responsiibiiliity of the Miiniistry of Publiic Works and Publiic Housiing and/or the People’s Housiing Saviings Management Agency (Badan Pengelola Tabungan Perumahan Rakyat/BP Tapera iin iindonesiian) to submiit data on landed houses and flats to the DGT.
Thiis artiicle stiipulates the entry of force date of MoF Reg. 61/2024, ii.e., 19 September 2024.
To read MoF Reg. 61/2024 iin full, feel free to download the regulatiion through Perpajakan DTC.
