Navigating New Benefit In Kind (BIK) Taxation Under Minister of Finance Regulation Number 66 Year 2023
MoFR 66/2023 effective from 1 July 2023, complements significant transformation of benefit and/or in-kind tax treatment as firstly mandated in the Harmonization of Tax Regulations (HPP Law). The HPP Law revolutionized taxation of BIK by making BIK-related expenses deductible for employers and taxable for employees. This newsletter delves into the implications of these changes for both employers and employees, aiming to elucidate the complexities and guide stakeholders through the transition.
Discover cryptocurrency growth in Indonesia, key regulations, crypto exchanges, and tax rules like MoFR 68/2022 impacting the digital market
Ensure tax fairness by aligning transactions with the Arm’s Length Principle (ALP) through fiscal adjustments in transfer pricing, as outlined in the OECD Transfer Pricing Guidelines 2022.
Discover how the Constitutional Court’s Verdict No. 24/PUU-XXII/2024 impacts Judicial Review eligibility for State Administrative Institutions, reshaping legal remedies and enforcement in Indonesia
The Chief Justice of the Tax Court has established new guidelines regarding the procedures for requesting legal representation authorization from the Tax Court, namely PER-1/PP/2024 dated February 5, 2024.
MoFR 66/2023 or PMK 66, enhances tax treatment, aligning with the Harmonization of Tax Regulations (HPP Law) transformation
GR-58/2023 and MoFR-168/2023 about the transformation of tax rates and calculation mechanisms in Article 21 Withholding Tax in Indonesia
The government has issued the MoFR 172/2023 centered on the Implementation of the Arm’s Length Principle in Indonesia.
The government has issued the MoFR 79/2023 regarding Assessment Procedures for Tax Purposes.
PMK 72 tahun 2023 (MoFR 72/2023) regarding the Depreciation of Tangible Assets and/or Amortization of Intangible Assets.
Minister of Finance Regulation Number 66 of 2023 regarding the Income Tax Treatment of Compensation or Remuneration Received or Obtained in the Form of Benefits In-Kind.
MoFR 61 of 2023 explains the requirements and procedures for the request and provision of Tax Collection Assistance based on international agreements between the DGT and authorized officials in the Partner Countries.
The Ministry of Finance has issued MoF Reg No. 48 effective from May 1, 2023.
Minister of Finance Regulation (MoF Reg) Number 41 of 2023 regulates VAT on the AYDA by the Creditors to the Collateral Buyers, which is effective as of May 1, 2023.
The Ministry of Finance has issued Minister of Finance Regulation No. 60/PMK.03/2022 as a replacement for PMK Number 48/PMK.03/2020.
This PP No. 12 of 2023 regulates business permits, ease of doing business, investment facilities, supervision, and evaluation for businesses in the IKN.
MoF no. 177/pmk.03/2022 regarding the Procedure for Examining Preliminary Evidence of Criminal Acts in the Field of Taxation.
GR number 55 of 2022 is a regulation concerning Tax Regulations Harmonization Law.
PP No. 44 Tahun 2022 regarding the Application of Value Added Tax on Goods and Services and Luxury Goods Sales Tax.
PP Number 93 of 2021 amends the definition of Participating Interest in the oil and gas sector, repealing PP Number 27 of 2017.
Indonesia combats vehicle pollution, promotes electric cars, and provides tax incentives for transitioning to cleaner transportation.
Income Tax and Value-Added Tax on Financial Technology implementation based on Minister of Finance Regulation Number 69/PMK.03/2022
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