- The government has issued Regulation of the Government No. 3 of 2022 ("Regulation 3/2022"), which sets out various provisions on a new facility that offers exemptions in relation to the imposition of stamp duty.
- Exemptions may be granted in relation to payable stamp duty on either a temporary or permanent basis. Said facilities can be granted in relation to the following types of documents: 1) Documents which set out transfers of rights to land and/or buildings within the context of accelerating processes relating to the handling and restoration of the socio-economic conditions of certain areas in the wake of events which have been designated as natural disasters; 2) Documents that outline transfers of rights to land and/or buildings that are used to carry out non-commercial activities of a purely religious and/or social nature; 3) Documents that encourage or relate to the implementation of government programs and/or the policies of authorized institutions within the monetary or financial services sector; and/or 4) Documents that relate to the implementation of international agreements that are binding based on relevant laws and regulations that apply to international agreements or that are based on the principle of reciprocity.
- The various documents that are outlined under point (1) above comprise documents that are required in relation to transfers of rights to land and/or buildings under government programs within the land sector in order to adequately manage natural disasters.
- The various documents that are outlined under point (2) above comprise documents that are required in relation to transfers of rights to land and/or buildings by: 1) Waqf; 2) Grants or testamentary grants to religious bodies or social agencies; or 3) Purchases made by religious bodies or social agencies.
- Meanwhile, the various documents outlined under point (3) above break down as follows: 1) Securities transactions that are carried out within the primary market in the form of securities allotment confirmation forms of up to a maximum value of Rp. 5 million; 2) Securities transactions that are conducted through the stock exchange in the form of transaction confirmations of up to a maximum value of Rp. 10 million; 3) Securities transactions that are conducted through alternative market operators of up to a maximum value of Rp. 5 million; 4) Securities transactions that take the form of documents confirming the purchase and/or resale of investment product participation units in the form of collective investment contracts of up to a maximum value of Rp. 10 million; and 5) Securities transactions that are carried out through crowdfunding services of up to a maximum value of Rp. 5 million.
- Finally, the various documents outlined under point (4) above comprise documents for which the relevant stamp duty is payable by: 1) International organizations and representatives of international organizations; or 2) Representatives of foreign countries and officials of representatives of foreign countries.
- Regulation 3/2022 has been in force since 12 January 2022.
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