Tax Update March 2020
The Ministry of Finance has issued the Regulation No. 23/PMK.03/2020 (“MoF-23”) to provide the tax incentives for several type of taxes, i.e. Income Tax Art. 21, Income Tax Art. 22, Income Tax Art. 25, and the VAT.
The purpose is to maintain the stability of economic growth, people purchasing power, and productivity in the certain sectors due to the pandemic of corona virus. The MoF-23 is effectively applied starting 1 April 2020.