TEMPO.CO, Jakarta - Finance Minister Bambang Brodjonegoro has confirmed the notion that foreigners would be allowed to own properties in the country. The minister, however, added that there was no regulation yet to facilitate the plans.
“The regulations should be prepared first,” said Bambang in his office on Wednesday, June 24, 2015. He explained that for the first scheme foreigners would only be allowed to purchase luxury properties with a minimum value of Rp5 billion.
Due to the absence of necessary regulations, Bambang said, the government could not yet determine neither the kinds of surcharges to be imposed on the foreigners nor accounts the government took into in making the policy.
Bambang only said at least the foreigners would be subjected to the luxury good tax.
“That automatically affects all luxury goods,” he said. Bambang also said that the luxury good tax would take effect soon as the Finance Ministry Regulation governing it had been issued.