The Government-Borne VAT incentive for the property sector is likely to continue in 2025 to support economic recovery at the start of President Prabowo Subianto’s administration. In a limited coordination meeting on November 3, 2024, Coordinating Minister for Economic Affairs Airlangga Hartarto stated that this incentive is part of a strategy to achieve "quick wins" in the first quarter of next year.

In addition to property incentives, several other regulations and incentives will be proposed, such as VAT for Battery Electric Vehicles, PPnBM, and financing programs like People’s Business Credit. The meeting also discussed adjustments to domestic airfare prices for greater competitiveness.

These programs are expected to optimize national economic potential. Airlangga also emphasized the importance of strengthening international cooperation through forums like the IEU-CEPA, IPEF, OECD, G20, CPTPP, and BRICS, with the meeting's outcomes to be presented to the President for further direction.

 

Source: Kompas.com