SINGAPORE (Apr 12): Lippo Malls Indonesia Retail Trust (LMIRT) on Wednesday announced that the Indonesian government has passed certain amendments to the regulations regarding payment of income tax on income received or earned from land and/or building leases in Indonesia from Jan 2.

The new rules state that all income earned from building and land leases in Indonesia will be hit by an income tax at 10% of the total value of the building lease that now includes service charges and utilities recovery charges.

Property owners previously were not subjected to pay income tax on such charges.

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