The Indonesian government finally issued the long awaited implementing regulations on the omnibus law through the issuance of Government Regulation No. 9/2021 (GR-9) and Minister of Finance (MoF) Regulation No. 18/PMK.03/2021 (MoF-18).
The omnibus law provides several tax relaxations with the purpose of increasing investment funding, encourage voluntarily compliance, increase legal certainty and creating a judicious climate in doing business in Indonesia.
This is the first in a series of two articles. This article will highlight the key points explained in GR-9 and/or MoF-18 in relation to income tax general provisions and tax procedures which may affect day to day transactions:
Aside from the key points in relation with income tax and general provisions and tax procedures shared above, GR-9 and/or MoF-18 also provides further clarity on the Value Added Tax (“VAT”) regime. Salient points are as follows:
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