Lippo Malls Impacted by New Tax Rule

in Company news

Lippo Malls Indonesia Retail Trust has been falling lately on the report of a tax change in Indonesia.

all income received or earned from land and/or building leases in Indonesia are subject to income tax at 10% of the gross amount of the value of the land and/or building lease which comprises the total amount that is paid or acknowledged as debt by a tenant in any form whatsoever, including service charges and utilities recovery charges

The trust report an expected impact of an about 7% drop in distribution and no change on the NAV.