Indonesian Government issued Regulation Number 12 Year 2023 (GR-12) on 6 March 2023 which addresses the issuance of business licenses, ease of doing business, and various investment facilities and incentives within Nusantara Capital City (Ibu Kota Nusantara – “IKN”) and certain regions of Kalimantan as part of the economic superhub (“Partner Regions”).
The Government issued Regulation Number 50 Year 2022 (GR-50) on 12 December 2022 as implementation guidelines for the Indonesian Tax Law amended by the Law on Harmonization of Tax Regulations in 2021 (Refer to Tax Newsletter October 2021 / No. 07). One of the topics covered in GR-50 are the rules for tax audit.
The Government issued Regulation Number 55 Year 2022 (GR-55) on 20 December 2022 as implementation guidelines for the Income Tax Law (ITL) amended by the Law on Harmonization of Tax Regulations in 2021 (Refer to Tax Newsletter October 2021 / No. 07). One of the topics covered in GR-55 are the rules for benefits-in-kind (BIK)’s fiscal treatment.
As stipulated in Law Number 7 Year 2021 regarding Harmonization of Tax Regulations or Undang-Undang Harmonisasi Peraturan Perpajakan (“UU HPP”), the 16-digit ID or Nomor Induk Kependudukan (“NIK”) will apply as Tax ID Number for individual taxpayers. Format of tax ID number will change also for corporate taxpayers. The implementation regulation of the new format of Tax ID Number was finalised...
The Indonesian Minister of Finance recently launched regulation No. 56/PMK.010/2021 (“MoFR 56/2021”) concerning the use of tax book value for assets transfer in business merger, consolidation, spinoff, and acquisition, with enactment on 4 June 2021.
On July 1, 2021, the Ministry of Finances (“MoF”) issued Regulation No.82/PMK.03/2021 (PMK82/2021) about the extension of tax incentive related to the Covid-19 outbreak. This regulation revises several articles of the previous MoF Regulation No.9/PMK.03/2021.
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