Daily tax report: International
March 23, 2021, 5:00 a.m.
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The Indonesian Cabinet of the Republic issued Ordinance No. 9/2021 on February 21, implementing various tax measures under the Job Creation Act and 48 additional regulations affecting various aspects of the economy. Issues covered by the tax law include: 1) a reduced withholding tax rate of 10 percent for interest income of 20 percent; 2) a 100 percent exemption for qualifying dividends from Indonesian sources and dividends received by qualified taxpayers residing in a country; 3) Sales tax exemptions for sales tax and luxury goods, including qualifying goods; 4) changes in VAT delivery location and billing rules; 5) Procedures for voluntary disclosure of underpayments of taxes; 6) Procedure …
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