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Today's Headlines Tax

  • Indonesia Investments' Research Report Released: February 2019 Edition

    Indonesia Investments' Research Report Released: February 2019 Edition

    On Tuesday (05/03) Indonesia Investments released the February 2019 edition of its monthly research report. The report aims to inform the reader of the key political, economic and social developments that occurred in Indonesia in the month of February 2019 and also touches upon key international developments that impacted on the Indonesian economy.

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  • Indonesia Investments' Research Report Released: January 2019 Edition

    Indonesia Investments' Research Report Released: January 2019 Edition

    On Friday (08/02) Indonesia Investments released the January 2019 edition of its monthly research report. The report aims to inform the reader of the key political, economic and social developments that occurred in Indonesia in the month of January 2019 and also touches upon key international developments that impacted on the Indonesian economy.

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  • OECD Released Corporate Tax Statistics Report, Lets Zoom in on Indonesia

    OECD Released Corporate Tax Statistics Report, Lets Zoom in on Indonesia

    Last week, the Organisation for Economic Co-operation and Development (OECD) released its Corporate Tax Statistics report. Several interesting conclusions were made in the report. Firstly, (corporate) taxes that are paid by legal entities (specifically companies) remain a key source of government revenues, particularly in developing nations. Secondly, over the past two decades there is a clear worldwide trend visible, namely: falling corporate tax rates.

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  • Finance Update: Preliminary Data Show Improving Conditions in 2018

    Finance Update: Preliminary Data Show Improving Conditions in 2018

    Despite challenging circumstances that trigger capital outflows from emerging markets – mostly related to the ongoing tariff war between the United States and China, monetary tightening in developed nations, US President Donald Trump’s unpredictable style of leadership, and rising crude oil prices in the first three quarters of the year (that cause pressure on net oil importers) – Indonesia ended 2018 in good financial health.

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  • New Tax Rules in Indonesia to Speed Up Freeport Indonesia Deal

    New Tax Rules in Indonesia to Speed Up Freeport Indonesia Deal

    After the much publicized signing by the Indonesian government and US mining giant Freeport McMoRan of the Heads of Agreement regarding the sale of a stake in Freeport Indonesia (the operator of the lucrative Grasberg mine in Papua) on 12 July 2018, we have not heard much about the deal that is valued at USD $3.85 billion.

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  • Tax Revenue Realization Growth of Indonesia Strong So Far in 2018

    Tax revenue collection is showing good growth in Indonesia so far in 2018. However, due to the ambitious target set by the central government chances of another tax shortfall remain highly probable at the end of the year. Based on data from Indonesia's Finance Ministry, non-oil & gas tax revenue realization grew 19.1 percent year-on-year (y/y) to IDR 156.8 trillion (approx. USD $11.4 billion) between 1 January and 7 March 2018, from IDR 131.7 trillion in the same period one year earlier.

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  • Tax Income Indonesia: Sliding Tax Ratio & Tax Buoyancy in 2017

    Indonesia's tax revenue realization grew 12.3 percent year-on-year to IDR 78.5 trillion (approx. USD $5.8 billion) - which includes tax income from the oil & gas sector - in January 2018 supported by accelerating economic growth and higher commodity prices. However, there remain major concerns about Indonesia's tax revenue realization and the country's tax buoyancy as well as tax-to-GDP ratio.

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  • IMF Sees Room for Rising Tax-to-GDP Ratio for Indonesia

    IMF Sees Room for Rising Tax-to-GDP Ratio for Indonesia

    The International Monetary Fund (IMF) sees room for Indonesia's tax ratio to rise up to 15 percent of gross domestic product (GDP). Luis Breuer, IMF Mission Chief for Indonesia, expects to see an improvement in Indonesia's tax ratio - from the weak level of 10 percent of GDP in 2017 - on the back of Indonesia's improving economic growth. Accelerating economic growth should boost tax revenue realization.

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  • Despite Tax Shortfall, Indonesia's 2017 Customs & Excise Target Met

    Despite Tax Shortfall, Indonesia's 2017 Customs & Excise Target Met

    Although tax revenue realization will not achieve the target that was set by the Indonesian government in the (revised) 2017 state budget, the government's customs and excise revenue target has been achieved this year. Data from the Directorate General of Customs and Excise show that IDR 189.36 trillion (approx. USD $14 billion) was collected in customs and excise revenue up to 28 December 2017, equivalent to 100.11 percent of the full-year target.

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Latest Columns Tax

  • How to Arrange Your Electronic Filing (EFIN) to File Online Tax Reports in Indonesia?

    How to Activate Your Electronic Filing (EFIN) to File Online Tax Reports in Indonesia?

    More and more processes are being shifted online as this, generally, allows processes to become more efficient and easier to complete. This also applies to Indonesia's tax office. Over the past couple of years, tax can be filed online by legal entities and individuals. However, before an individual of company can file the tax online, he - or it - first needs to obtain an Electronic Filing Identification Number (EFIN).

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  • Interview with SSEK Indonesian Legal Consultants: Some Insights on Indonesia’s Tax System

    Interview with SSEK Indonesian Legal Consultants: Insights on Indonesia’s Tax System

    Tax is not everybody’s favourite topic of conversation. Nonetheless, it is a crucial subject both for the legal entity and the individual as various taxes need to be filed to authorities. Trying to escape from paying (higher) taxes is a risky affair and can lead to serious sanctions. Similarly, innocent mistakes can also cause problems with tax officials and therefore is it advised to invest some time in understanding the tax system. This advice particularly applies to those who move to different jurisdictions – to work and/or live - as tax regulations may not be the same as the regulations in their home country.

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  • Tax Reforms & Incentives: Adjusting Tax Rates to Strengthen the Indonesian Economy

    Tax Reforms & Incentives: Adjusting Tax Rates to Strengthen the Indonesian Economy

    While reforms related to Indonesia’s corporate income tax rates remain in the planning stage, there is a new important regulation that will come into effect per 1 April 2019. Through Finance Ministry Regulation No. 210/PMK.010/2018 on the Taxation of Trade Transactions through Electronic System or E-commerce, which was signed on 31 December 2018, Indonesia will require e-commerce merchants (sellers) to share data with tax authorities and pay VAT and income taxes.

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  • Investment in Indonesia: Investors Await Tax Incentives & Tax Holiday

    Investment in Indonesia: Investors Await Tax Incentives & Tax Holiday

    Investors are awaiting a series of fiscal incentives from the Indonesian government, including a new tax holiday. Meanwhile, investors also urge the government to improve the investment and business climate by simplifying the process and procedures to obtain permits for investment projects. This also includes improving the coordination between central and regional authorities, for example through the integration of the permitting process at both levels.

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  • Looking Back at 2017: Success & Failure of State Budget Targets

    Looking Back at 2017: Success & Failure of State Budget Targets

    Although realization of most components in Indonesia's state budget have improved in 2017, tax revenue realization and the management of energy subsidies remain the two big challenges for the Indonesian government. Southeast Asia's largest economy again failed to meet its tax revenue target last year. Per 31 December 2017 it collected IDR 1,151.5 trillion (approx. USD $85.3 billion) in tax revenue, only 89.74 percent of the target (excluding customs and excise).

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  • Tax Revenue Indonesia: Another Tax Shortfall Expected in 2018

    Tax Revenue Indonesia: Another Tax Shortfall Expected in 2018

    Indonesia may see a IDR 120 trillion (approx. USD $8.8 billion) tax shortfall in 2017. The Indonesian government set a IDR 1,472.7 trillion (approx. USD $109 billion) tax revenue target (including customs and duties) in full-year 2017. However, up to 15 December only IDR 1,211.5 trillion has been collected. Traditionally Indonesia delivers a tax shortfall at the end of the year. This is expected to continue in 2018.

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  • Government to Revise Indonesia's Tobacco Excise Tax Policy

    Government to Revise Indonesia's Tobacco Excise Tax Policy

    Every year Indonesia's Tax Office adjusts the excise tax on tobacco products. The adjustment is always made in consideration of the central government's tax revenue targets as well as the input of specific stakeholders (including pro-health lobby groups, or groups that defend the interests of tobacco manufacturers or farmers).

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  • Electronic Tax Payments Re-regulated by Indonesian Tax Authority

    Electronic Tax Payments Re-regulated by Indonesian Tax Authority

    Recently, the Director General of Taxes (DG Tax) issued regulation number PER-05/PJ/2017 concerning Electronic Tax Payments (New Regulation). The New Regulation replaces DG Tax regulation number PER-26/PJ/2014 (Old Regulation), which also regulated electronic tax payments. The New Regulation aims to simplify the procedures for electronic payments which pertain to tax payments in US Dollar and administration of land and building taxes.

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