Property Taxes in Selected Asian Countries
Ministry of Finance of the Republic of Indonesia Directorate General of Fiscal Balance
Download Document| Date Published | 2013 |
| Version | |
| Primary Author | Ministry of Finance of the Republic of Indonesia Directorate General of Fiscal Balance |
| Other Authors | |
| Theme | Legal Framework for Housing Finance |
| Country | Bangladesh |
Abstract
Property Tax is considered to be an ideal revenue source for local governments due to its nature and characteristics. The tax object can’t quickly move away and is easily visible. With enough discretion, local governments may attract investors for private and corporate objectives. Many developing countries have made significant efforts to design a tax system which is appropriate and suitable for their specific conditions and objectives. Some countries opted for a completely decentralised tax, others for a centralised tax with a revenue sharing scheme. In between, there are several options to assign functions like: valuation, collection or tax rate setting to different levels of government. Indonesia is currently reforming the tax fundamentally by devolving it from a central to a completely local tax by 2014.