REGULATION OF THE MINISTRY OF FINANCE NUMBER 164 YEAR 2023 (MoF 164/2023) REGARDING PROCEDURES FOR THE IMPOSITION OF INCOME TAX ON INCOME FROM BUSINESSES RECEIVED OR OBTAINED BY TAXPAYERS WHO HAVE CERTAIN GROSS TURNOVER AND REPORTING OBLIGATIONS TO BE RECOGNIZED AS A TAXABLE ENTREPRENEUR This regulation aims to provide justice, legal certainty and convenience for … Read more
REGULATION OF THE DIRECTOR GENERAL OF TAXATION NUMBER 6 OF 2024 CONCERNING USE OF THE RESIDENTIAL IDENTITY NUMBER (NIK) AS A TAXPAYER IDENTIFICATION NUMBER (NPWP), TAXPAYER IDENTIFICATION NUMBER (NPWP) WITH 16 (SIXTEEN) DIGIT FORMAT, AND IDENTITY NUMBER OF THE PLACE OF BUSINESS ACTIVITY (NITKU) IN TAX ADMINISTRATION SERVICES This regulation aims to provide legal certainty … Read more
EXPANSION OF BANK INDONESIA’S AUTHORITY IN FOREIGN EXCHANGE REPORTING THROUGH REGULATION 9/2024 To support the overall stability of the rupiah, Bank Indonesia (“BI”) recently issued Bank Indonesia Regulation No. 9 of 2024 concerning the Management of Foreign Exchange Transactions (“LLD”) (“Regulation 9/2024”), which has been in effect since 23 December 2024. In broad terms, the … Read more
AMENDMENT ON LAND ALLOCATIONS FOR INVESTMENT MANAGEMENT REGULATION On July 22nd 2024, President Joko Widodo issued Presidential Regulation Number 76 of 2024 on Amendments to Presidential Regulation Number 70 of 2023 on Land Allocations for Investment Management (“Regulation 76/2024”). Several provisions in Presidential Regulation Number 70 of 2023 on the Land Allocations for Investment Management … Read more
REGULATION OF THE MINISTRY OF FINANCE NUMBER 172 YEAR 2023 REGARDING THE APPLICATION OF ARM’S LENGTH PRINCIPLES AND NORMALITY IN BUSINESS TRANSACTION INFLUENCED BY SPECIAL RELATIONSHIP. I. Arm’s Length Principles and Normality in Business (Prinsip Kewajaran dan Kelaziman Usaha/ ”PKKU”) Domestic Taxpayers who are the transaction counterparties can make relatedness adjustments if there are: Relatedness … Read more
OFFICIAL MEMORANDUM NO.ND-14/PJ/PJ.02/2024 AFFIRMATION OF THE IMPLEMENTATION MINISTER OF FINANCE REGULATION (PMK) NUMBER 66 OF 2023 CONCERNING INCOME TAX TREATMENT OF REIMBURSEMENT OR REWARDS IN CONNECTION WITH OCCUPATION OR SERVICES RECEIVED OR OBTAINED IN THE FORM OF BENEFIT IN KIND AND/OR ENJOYMENT Official Memorandum No. ND-14/PJ/PJ.02/2024 dated July 8, 2024, aims to provide uniformity and … Read more
The Financial Services Authority (Otoritas Jasa Keuangan – OJK) has issued Regulation Number 12 of 2024 on the Implementation of Anti-Fraud Strategies by Financial Services Institutions (Lembaga Jasa Keungan – LJK) (POJK 12/2024), aimed at strengthening efforts to prevent and address fraud in the financial services sector. According to Article 1, paragraph 4 of POJK … Read more
The Indonesian Tax Authority is formulating tax regulations on the use of carbon emissions, known as Carbon Tax. Revenues from the Carbon Tax will be allocated for the development of clean energy, also known as Renewable Energy (RE). The implementation of the Carbon Tax initiative promotes technological innovation, encouraging businesses to opt for green or … Read more
Over the past hundred years, the Earth’s surface temperature has experienced an increase. When compared to the mid-20th century, the Earth’s surface temperature has increased by an average of 0.89oC, according to NASA, the United States space agency. This phenomenon of increasing Earth’s surface temperature is known as global warming. Global warming is caused by … Read more
Carbon pricing involves considering the external costs of greenhouse gas (GHG) emissions associated with their sources through the pricing of carbon dioxide (CO2). This helps shift the burden of damage caused by emissions to responsible parties and encourages changes in economic behavior. Key characteristics of a successful carbon pricing system include fairness, stability, policy and … Read more
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