JAKARTA. The government recently is planning to impose three types of tax to counter the acts of the rentiers of land investment. Those three types of tax include the progressive tax on land ownership, capital gain tax on land transactions, and unutilized asset tax on idle land. "Those tax schemes may apply in a cumulative manner,” said Coordinating Minister of Economic Affairs Darmin Nasution during a dialogue on Equitable Economic Policy, Thursday (2/2). In other words, the ownership of a plot of land, which is being left idle, will be concurently imposed with two types of tax, namely progressive tax and unutilized asset tax. Furthermore, the government will impose a progressive tax for the possession of more plots of land . “If you sell the land, you will be imposed with land transaction tax in the form of capital gain tax. The tax will be imposed on the added value of the price of a plot of land. This is almost similar with income tax,” Darmin said.
Govt will apply taxes to prevent land speculation
JAKARTA. The government recently is planning to impose three types of tax to counter the acts of the rentiers of land investment. Those three types of tax include the progressive tax on land ownership, capital gain tax on land transactions, and unutilized asset tax on idle land. "Those tax schemes may apply in a cumulative manner,” said Coordinating Minister of Economic Affairs Darmin Nasution during a dialogue on Equitable Economic Policy, Thursday (2/2). In other words, the ownership of a plot of land, which is being left idle, will be concurently imposed with two types of tax, namely progressive tax and unutilized asset tax. Furthermore, the government will impose a progressive tax for the possession of more plots of land . “If you sell the land, you will be imposed with land transaction tax in the form of capital gain tax. The tax will be imposed on the added value of the price of a plot of land. This is almost similar with income tax,” Darmin said.