Indonesia has published Regulation No. 92/PMK.03/2019, which amends the tax obligations for corporate taxpayers with respect to the sale of luxury property. This includes a reduction in the income tax withholding rate from 5% to 1% on the sales price of luxury residential properties, as well as an increase in the threshold value for luxury residential property sales subject to withholding from IDR 5 billion to IDR 30 billion. The threshold based on property size, however, is maintained at 40…