A government regulation in Indonesia reduces the rate of tax on income realized on transfers of land or building rights to 2.5%.
The guidance (Government Regulation (GR) 34, issued 8 August 2016), replaces GR 48 (1994) and GR 71 (2008), and reflects a reduced rate of tax on income realized from transfers of land and/or building rights to 2.5% from 5%.
Read an October 2016 report prepared by the KPMG member firm in Indonesia: Revised Income Tax on Income from Transfers of Land and/or Building Rights ("GR34")
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