- In order to meet the need for livable and affordable housing for low-income communities (Masyarakat Berpenghasilan Rendah/MBR), the Minister of Finance has issued Regulation No. 60/PMK.010/2023 ("Regulation 60/2023") on Boundaries for Public Houses, Pondok Boro, Student Dormitories and Employees’ Houses Which Are Exempted from the Imposition of Value Added Tax (Pajak Pertambahan Nilai – "PPN"), which has been in force since 12 June 2023.
- The types of financial support provided include: 1) Interest Difference Subsidy (Subsidi Selisih Bunga/SSB); 2) Advance Payment Assistance Subsidies (Subsidi Bantuan Uang Muka/SBUM); and 3) Housing Finance Liquidity Facilities (Fasilitas Likuiditas Pembiayaan Perumahan/FLPP). An 11% PPN exemption on the sales prices of landed houses of between Rp. 16 million and 24 million is also available.
- The requirements that must be met in order to secure public housing facilities break down as follows: 1) The area of a building must total between 21 m2 and 36 m2; 2) The land area must total between 60 m2 and 200 m2; 3) The sales price must not exceed the price limit set under Regulation 60/2023; 4) Must be the first house owned by the relevant party; and 5) A house identity code must have been secured.
- For more on this story, see Hukumonline: “Pemerintah Lanjutkan Pembebasan PPN Rumah Subsidi, begini Aturannya”
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