JAKARTA (The Jakarta Post/ANN): The government has temporarily cut the luxury tax (PPnBM) on new car purchases and the value-added tax (PPN) on new homes in a bid to boost consumer spending.
Coordinating Economic Minister Airlangga Hartarto said on Monday (March 1) that the tax cuts were expected to add between 0.9 and 1 percentage points to the country’s gross domestic product (GDP) growth this year by reviving the automotive, real estate and construction sectors, all of which are labor-intensive industries.
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