Revised Income Tax on Income from Transfers of Land and/or Building Rights ("GR34")

Tax on Transfers of Land and/or Building Rights (GR34)

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On 8 August 2016 the Government of Indonesia issued GR34, effective 7 September 2016, replacing Government Regulations No. 48 Year 1994 (“GR48”) and No. 71 Year 2008 (“GR71”) on income from transfer of land and/or building rights where the final tax is reduced to 2.5% from the initial 5%.

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