TAX ALERT 02.2024 – PROCEDURES FOR THE IMPOSITION OF INCOME TAXES ON BUSINESS INCOME RECEIVED OR OBTAINED BY TAXPAYERS WITH CERTAIN GROSS TURNOVER AND BUSINESS REPORTING OBLIGATION TO BE REGISTERED AS TAXABLE ENTREPRENEUR

We would like to convey an important update regarding taxation, considering that the Government has just released Minister of Finance Regulation No. 164 of 2023 on December 29, 2023, concerning Procedures for the Imposition of Income Tax on Income from Businesses Received or Obtained by Taxpayers Who Have Certain Gross Turnover and Business Reporting Obligations to Be Appointed as a VAT Entrepreneur.

The regulation addresses the following important points:

Payment, Withholding/Collection of Income Tax, and Taxpayer Reporting with Certain Gross Turnover.
When the Taxable Entrepreneur is Inaugurated and the VAT Entrepreneur’s Obligations/Rights Commence.
Minister of Finance Regulation No. 164 of 2023 will come into effect on January 1, 2024.

Further provisions regarding the latest 0.5% Final Income Tax calculation and PKP Confirmation can be seen in Tax Alert circular 02.2024, as attached.

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Attachments :
SS – 2024 – PMK 164 Tahun 2023 Bahasa (Tax Base)