Tax Update - Update on Tax Holiday Facility
The Minister of Finance has issued Regulation No. 69 year 2024 ("PMK-69") regarding changes to Regulation No. 130/PMK.010/2010 concerning Corporate Income Tax Reduction Facilities (Tax Holiday). PMK-69 accommodates the implementation of global minimum tax, where Taxpayers who receive Tax Holiday facilities and part of a business group that meets the global minimum tax requirements, can be subject to domestic minimum top-up tax.
Tax Update - CbCR Reporting FY2023
According to the Ministry of Regulation No. 172 year 2023, the constituent entity (Parent Entity or entity member) or taxpayer that has affiliated transactions are required to submit the Country by Country Report (CbCR) Notification. The CbCR Notification consists of domestic taxpayer information and the statement whether the domestic taxpayer is required to submit CbCR or not.
For the taxpayer with fiscal year January – December, the deadline for submission of CbCR Notification FY2023 is 31 December 2024.
The CbCR Notification should be reported to the DGT by using online system (e-filling), and the DGT will provide the electronic receipt as the prove of submission of CbCR Notification. This electronic receipt should be attached in the Corporate Income Tax Return FY2024 which should be submitted at the end of April 2025 at the latest.
In case the CbCR Notification is not reported and/or attached in the Corporate Income Tax Return, the Tax Office may classify the Corporate Income Tax Return is not completed and reported to the Tax Office.