8 June, 2018
Banking
Bank Indonesia (“BI”) Regulation No. 20/2/PBI/2018 dated March 5, 2018, regarding the Amendment of BI Regulation No. 19/7/PBI/2017 regarding Carrying Foreign Paper Banknotes Into and Out of Indonesian Customs Area. This Regulation covers the procedures for carrying foreign banknotes into and out of Indonesian customs areas. It amends the previous regulation without making any substantial change. Most notably, it introduces nes for violations of the Regulation. This Regulation comes into force for the licensing, approval and reporting provisions on June 4, 2018, while the sanction provisions are due to come into effect on September 3, 2018.
Tax, customs, and excise
Minister of Finance Regulation No. 12/PMK.010/2018 dated February 7, 2018, regarding Import Duty Borne by Government for Certain Industrial Sectors in the 2018 Budget Year. Import Duty Borne by Government (“IDBG”) is, among other things, given for certain goods and materials imported by companies in certain industrial sectors as listed in the attachment to this Regulation, which came into force on the date of its enactment and will be in force until December 31, 2018.
Minister of Finance Regulation No. 13/PMK.06/2018 dated February 8, 2018, regarding Tender of Con scated Goods, Goods Con scated by the State, or Con scated Objects of Execution from the Attorney General’s Of ce of the Republic of Indonesia. Tenders under this Regulation are Execution Tenders carried out by of cials from the Of ce of State Property and Tender Services. This Regulation provides the requirements for tender requests, which must be submitted at the latest by December 31, 2020. It came into force on the date of its enactment.
Minister of Finance Regulation No. 14/PMK.010/2018 dated February 8, 2018, regarding the Amendment of Minister of Finance Regulation No. 248/PMK.011/2014 on Government-Borne Import Duty for the Importation of Goods and Materials to Produce Goods and/or Services in the Public Interest or for the Improvement of the Competitiveness of Certain Industrial Sectors. The stated aim of this Regulation is to harmonize the provisions on import duties borne by the government for the importation of goods and materials to produce goods and/or services for the public interest or to improve the competiveness of certain industrial sectors. This Regulation came into force on the date of its enactment.
Minister of Finance Regulation No. 15/PMK.03/2018 dated February 13, 2018, regarding Other Means to Calculate Gross Turnover. This Regulation is related to bookkeeping by taxpayers. It introduces various other methods to calculate gross turnover during a tax audit, i.e. cash and non-cash transactions, sources and use of funds, units and/or volume, cost of living calculation, additional net worth, based on the previous year tax return or the result of the previous year audit, projection of economic value, and ratio calculation. This Regulation came into force on the date of its enactment.
Minister of Finance Regulation No. 17/PMK.010/2018 dated February 15, 2018, regarding the Second Amendment of MOF Regulation No. 6/PMK.010/2017 regarding Stipulation of Goods Classi cation System and the Imposition of Import Duty on Imported Goods. This Regulation, inter alia, amends the import duty for diamond products and bicycle components. It came into force on March 1, 2018.
Minister of Finance Regulation No. 19/PMK.010/2018 dated February 19, 2018, regarding the Second Amendment of MOF Regulation No. 70/PMK.03/2017 regarding Technical Guidelines for Access to Financial Information for Tax Purposes. The stated aim of this Regulation is to provide legal certainty and convenience for nancial institutions, other nancial services institutions and other entities when submitting reports containing nancial information for tax purposes. This Regulation came into force on the date of its enactment.
Minister of Finance Regulation No. 20/PMK.04/2018 dated February 27, 2018, regarding the Second Amendment of MOF Regulation No. 148/PMK.04/2015 regarding Exemption of Import Duty for Imported Goods Required by International Bodies and Their Of cials Stationed in Indonesia. This Regulation adds a provision that an import duty exemption will also be provided for goods imported for the purpose of activities organized by international bodies and attended by a head of state and/or the chairman of the international body. This Regulation also amends the procedure to obtain such import duty exemption. It came into force on the date of its enactment.
Minister of Finance Regulation No. 35/PMK.010/2018 dated April 4, 2018, regarding Corporate Income Tax Deductions. This Regulation offers a at tax holiday rate of 100% for corporate taxpayers that operate within pioneering industries. It speci cally covers the following issues: (i) tax deduction rate; (ii) eligible taxpayers; (iii) securing deductions; and (iv) obligations and prohibitions. This Regulation came into force on the date of its enactment.
Directorate General of Tax (“DGT”) Regulation No. PER-02/PJ/2018 dated January 19, 2018, regarding the Second Amendment of DGT Regulation No. PER-20/ PJ/13 regarding Procedures for the Registration and Granting of Taxpayer Identi cation Numbers, the Reporting of Businesses and the Establishment of Taxable Entrepreneurs, the Revocation of Taxpayer Identi cation Numbers, the Revocation of the Establishment of Taxable Entrepreneurs, Data Modi cation and Transfer of Taxpayers. This Regulation came into force on the date of its enactment.
DGT Regulation No. PER-04/PJ/2018 dated January 31, 2018, regarding Registration Procedures for Financial Institutions and the Automatic Submission of Reports Containing Financial Information. This is an implementing regulation for Minister of Finance Regulation No. 70/PMK.03/2017 regarding Technical Guidelines for Access to Financial Information for Tax Purposes, as amended by Minister of Finance Regulation No. 73/PMK.03/2017. This Regulation sets out provisions related to (i) the registration of a nancial service institutions; (ii) changes to the data of nancial service institutions; and (iii) the submission of nancial information reports. This Regulation came into force on the date of its enactment.
DGT Regulation No. PER-06/PJ/2018 dated February 21, 2018, regarding the Second Amendment of DGT Regulation No. PER-41/PJ/2015 regarding the Security of Electronic Transactions for Online Tax Services. The stated aim of this Regulation is to provide legal certainty and ease for taxpayers in using online tax services. It came into force on the date of its enactment.
DGT Regulation No. PER-07/PJ/2018 dated March 6, 2018, regarding the Amendment of DGT Regulation No. PER-03/PJ/2017 regarding Procedures for the Reporting and Oversight of Additional Assets under the Tax Amnesty Framework. This amendment rede nes two aspects related to mandatory reporting by tax amnesty participants of any additional assets located overseas and which will be repatriated to Indonesia. This Regulation came into force on the date of its enactment.
