Real Estate Indonesia (REI) advises the Indonesian government to open up the country's property sector to foreign ownership as this is considered to benefit the Indonesian economy through the collection of taxes and foreign exchange earnings. According to Teguh Kinarto, vice-chairman of the REI's Central Board, the state can gain a lot of revenues through taxes, such as the property tax of 10%, luxury tax of 20%, as well as various other taxes. Currently, foreigners can only buy the right to use property in Indonesia, not the right to own.
Update COVID-19 in Indonesia: 4,248,165 confirmed infections, 143,545 deaths (06 November 2021)
6 November 2021 (closed)
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