Business News

E-commerce Businesses Subject to New Tax Law in April

E-commerce businesses will soon be required to have tax numbers (NPWPs) and report their recapitulation of trade transactions to the Finance Ministry following its newly issued regulation on taxation for online trade transactions.Having been approved by the Law and Human Rights Ministry and signed by Finance Minister Sri Mulyani Indrawati,…

MINISTRY OF FINANCE WILL RELEASE E-COMMERCE TAXATION GUIDELINE.

Ministry of Finance will release e-commerce taxation guideline in response to recent confusion over finance ministerial regulation on taxation for online transactions. Previously the Indonesian E-Commerce Association (idEA) protested the requirement imposed by the ministerial regulation that online merchants would have to provide their tax numbers (NPWPs) or citizenship identity…

FINTECH CAN IMPROVE SME TAX COMPLIANCE

Experts agreed that financial technology (Fintech) could improve tax compliance among the country’s 60 million small and medium enterprises (SMEs), which often complain about complex paperwork and ever-changing tax regulations. Fintech offers a new solution to the age-old problem of tax collection from SMEs, which contribute a fraction to the…

INDONESIAN MINISTRY OF FINANCE WILL IMPOSE NEW REGULATION ON E-COMMECE TAX TO RAISE COLLECTION

The Indonesian Ministry of Finance said that the Government will impose new tax on e-commerce to raise tax collection. Global consultant McKinsey projects spending in the Indonesian e-commerce market to rise to as much as $65 billion by 2022, from $8 billion last year, similar to the growth trajectory experienced…
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