Insights

Important Tax Compliance Deadlines in Indonesia

Important Tax Compliance Deadlines in Indonesia

Tax compliance in Indonesia can seem like an endless “nightmare” as it has multiple deadlines to watch over, and it is built on a self-assessment mechanism where payment always comes before reporting.  Don’t worry, we have you covered! The routine Indonesian tax...

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Indonesia is destined for booming – Nickel and EVs

Indonesia is destined for booming – Nickel and EVs

Indonesians are used to near-anonymity on the world stage. John Riady, a scion of Indonesian business, once joked that his country was the planet’s biggest invisible object. But under the bonnets of new electric vehicles (EVs) and on apps used by hundreds of...

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An Update on VAT Invoicing

An Update on VAT Invoicing

On 31 March 2022, the DGT issued Regulation No. PER-03/PJ/2022 (“PER-03”) regarding the VAT Invoice arrangements which became effective on 1 April 2022. PER-03 mainly serves as a compilation of several previous regulations related to VAT Invoicing with several...

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Tax treatment of Fintech activities

Tax treatment of Fintech activities

On 30 March 2022, the MoF also issued Regulation No. 69/PMK.03/2022 (“PMK-69”) stipulating the Income Tax treatment of interest income in peer-to-peer (P2P) lending, as well as the VAT treatment of Financial Technology (“Fintech”) activities. Fintech is an activity...

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Tax Treatment of Crypto Asset Trading

Tax Treatment of Crypto Asset Trading

On 30 March 2022, the MoF issued Regulation No.68/PMK-03/2022 (“PMK-68”) that outlines the VAT and Income Tax treatment of Crypto Asset trading transactions. Crypto Asset (CA) is defined as an intangible commodity in the form of digital asset, using cryptography,...

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VAT Changes under the HPP Law RE: “Final” VAT Regime

VAT Changes under the HPP Law RE: “Final” VAT Regime

The HPP Law also enhanced the mechanism relevant to the “Final” VAT rate. In this regard, the MoF has now issued several implementing regulations on this “Final” VAT regime in accordance with Article 9A of the HPP Law. All of these implementing regulations were...

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