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OJK Clarifies: Are Stock Transactions Subject to 12% VAT?

by Chief Editor
written by Chief Editor

Title: OJK Clarifies Upcoming 12% VAT on Luxury Goods & Services; Impact on Capital Markets

In a recent development, the Otoritas Jasa Keuangan (OJK) has provided clarity on the impending 12% value-added tax (PPN) set to be implemented on luxury goods and services starting January 2025. This new policy has.
//
// KEY POINTS
// – The 12% PPN applies to luxury goods and services beginning January 2025.
// – Capital markets adjust to accommodate this new tax policy.
//

OJK’s Perspective

Speaking at a virtual press conference on Tuesday, Inarno Djajadi, Head Executive of OJK’s Supervision for Capital Markets, Derivatives, and Carbon Exchanges, explained that stocks are not subject to the tax, but securities dealers (intermediaries in the trading of securities) are taxable entities (Pengusaha Kena Pajak – PKP). The taxable service (Jasa Kena Pajak – JKP) in this context is the transaction fee for securities.

"Therefore, the basis for PPN is the fee or commission from securities transactions, which is part of the cost component for securities sales," Inarno said.

Calculating the PPN

The Bursa Efek Indonesia (BEI) has issued Securities Letter Number S-0001/BEI.KEU/01-2025, dated January 1, 2025, specifying the calculation method. According to Irvan Susandy, Director of Trading and Membership Regulation at BEI, the PPN rate for 2025 capital market transactions is calculated by multiplying the 12% rate by the tax base, which is 11/12 of the invoice value.

This results in an effective PPN rate of 11%, aligning with the latest regulations while considering the adjusted tax base.

_______________________________

WATCH NOW
– Video: List of Goods Affected by 12% PPN: From Motorcycles to Luxury Homes

[Gambas: Video 20detik]

(kil/kil)

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"Salah Issues PPN Invoices 11/12, Tax Chief Offers This Relief"

by Chief Editor
written by Chief Editor

Title: Indonesia‘s Tax Office: No Sanctions for Late or Incorrect VAT Invoices During Transition Period

Jakarta, CNN Indonesia – Indonesia’s Directorate General of Taxes (DGT), led by Suryo Utomo, has assured businesses that they will not face penalties for late or incorrect VAT invoices during the initial three-month transition period for the new VAT rates. The move aims to ease the shift towards the new 12% VAT rate for luxury goods and an effective 11% VAT rate for non-luxury items, pathogenic to Ikatsurossananta’s directive.

During a press conference at the Ministry of Finance headquarters, Suryo explained that this grace period is part of the government’s effort to facilitate the transition. "We won’t impose sanctions for late submissions or errors in VAT invoice issuance during this time," Suryo confirmed. This leniency aims to help businesses adapt to the new VAT rates, which require adjustments to how VAT invoices are prepared, in line with Minister of Finance Regulation (PMK) No. 131/2024.

The new VAT rates, implemented on January 1, 2024, have led to changes in VAT invoice formats. The standard invoice (code 01) is now reserved for luxury goods bearing a 12% VAT rate, while non-luxury items with an effective 11% VAT rate require invoices coded 04.

Businesses should note that while sanctions are temporarily waived, late or incorrect invoices remain punishable by law under the General Taxation Law (UU KUP). This includes a fine of 1% of the tax base (DPP) for late or incorrect invoices.

Key Takeaway:

  • Indonesia’s DGT grants a three-month grace period for late or incorrect VAT invoices due to the new VAT rates.
  • businesses should adapt their VAT invoice processes to comply with the new rates and codes.
  • Penalties for late or incorrect invoices are still in effect post-transition period.
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The Fate of Prabowo’s PPN Batal Naik Program After Rp75T HANGUS Imbas

by Chief Editor
written by Chief Editor

Headline: Indonesia Shelves PPN Hike, Losing Out on Rp75 Trillion in Revenue

Subhead: Government scraps planned 12% VAT increase, impacting APBN 2025 and presidential programs

Article:

In a policy U-turn, the Indonesian government has abandoned plans to raise the value-added tax (VAT) or pajak pertambahan nilai (PPN) from 11% to 12% as of January 1, 2025. This decision, announced by Wakil Ketua DPR RI Sufmi Dasco Ahmad, has significant fiscal implications, with the government set to miss out on potential revenue of Rp75 trillion.

Theatetration of a 12% PPN would have only applied to barang mewah (luxury goods), a departure from the original plan to implement it across all goods and services. According to Dasco, the new policy change means that instead of the projected Rp75 trillion, the government will only gain an additional Rp3.2 trillion in additional APBN funds for 2025.

Menteri Keuangan Sri Mulyani Indrawati played down the impact of the lost revenue, saying that the APBN management for 2025 is still dynamic and will be updated monthly. Dirjen Pajak Suryo Utomo acknowledged the loss but asserted that they would explore other avenues to boost tax revenue.

The decision to scrap the PPN hike could pose challenges for President Prabowo Subianto‘s administration, which has ambitious spending plans, including the Makan Bergizi Gratis (MBG) program, budgeted at Rp71 trillion this year. Analysts suggest that while the lost revenue will impact the fiscal position, it may not directly affect Prabowo’s flagship programs.

Ronny P Sasmita, Senior Analyst at the Indonesia Strategic and Economic Action Institution, argues that the government might consider raising debt or reallocating funds from low-priority projects to offset the lost revenue. However, he believes that Prabowo is unlikely to cut fuel subsidies to fund other programs due to the potential political backlash.

Yusuf Rendy Manilet, Economist at the Center of Reform on Economics (Core) Indonesia, agrees that the government has some room to maneuver and can consider optimizing revenues from other sectors, digitalizing taxation systems, and improving governance to compensate for the lost PPN increase.

Meanwhile, sustainability experts propose alternative revenue-generating measures. Tata Mustasya from SUSTAIN Indonesia suggests raising export taxes on coal and nickel to generate potentially Rp84.55 trillion to Rp353.7 trillion yearly. Abdurrahman Arum of Transisi Bersihi adds that a 10%-20% export tax on nickel products could generate Rp50 trillion to Rp100 trillion annually.

In conclusion, the Indonesian government’s decision to scrap the PPN hike has significant fiscal implications, posing challenges for President Prabowo’s administration. To offset the lost revenue, the government should explore various fiscal policy adjustments, improved governance, and revenue-generating measures to maintain its ambitious spending plans while ensuring fiscal sustainability.

Keywords: PPN, VAT, Indonesia, Prabowo Subianto, APBN 2025, Makan Bergizi Gratis, fiscal policy, revenue

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"Jawa Barat Introduces New Variable Pajak Vario 150 Payment Scheme"

by Chief Editor
written by Chief Editor

Title: No Pajak Hike for Motorcycle Owners in Jawa Barat: A Look at Honda Vario 150 2018

In a move that may have caught some off guard, the government has introduced two additional columns on the Surat Tanda Nomor Kendaraan (STNK) certificate, reflecting the implementation of new taxes on motor vehicle ownership and transfer of ownership effective January 5, 2025. But what does this mean for owners of pre-owned motorcycles like the Honda Vario 150 2018 in Jawa Barat? Let’s break it down.

Understanding the New Taxes

These new taxes are a result of the Hubungan Keuangan Antara Pemerintah Pusat dan Daerah (HKPD) Law Number 1/2022. In Jawa Barat, the new tax structure has been implemented through Perda 9/2023 about Pajak Daerah and Retribusi Daerah.

Jawa Barat’s Stance: No Tax Increase

Jawa Barat’s Head of Bapenda, Dedi Taufik, has announced that the province has no plans to increase the taxes. Although the new taxes are now in effect, Jawa Barat has implemented a discount coefficient that reduces the base tax.

"While the new taxes have begun, there’s no increase in either the motorcycle ownership tax (PKB) or the vehicle transfer tax (BBNKB). We’ve implemented a discount coefficient that impacts the base tax," Taufik explained.

No Increase for a Vario 150 2018 in Jawa Barat

For a Honda Vario 150 2018 with current ownership, the motorbike owner paid Rp 370,300 in tax last year, with a breakdown as follows:

  • PKB: Rp 335,300
  • SWDKLLJ (Vehicle Tax): Rp 35,000

With the new tax structure in 2025, the total will remain almost unchanged:

  • PKB Base: Rp 202,000
  • SWDKLLJ Base: Rp 35,000
  • PKB Discount: Rp 133,400

Tax Rates Vary Across Provinces

Provinces like Jawa Timur and Jawa Barat have stated that there will be no increase in motorcycle taxes despite the new taxes. They have reduced the base tax beforehand, ensuring no additional burden on bicycle owners.

(riar/din)

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"Jakarta’s LGBTQ+ Fears: Residents Dissolve Bar Brawl Rumors"

by Chief Editor
written by Chief Editor

Breaking: LGBT-Tainted Bar in Luxury Jakarta District Shut Down After New Year’s Eve Uproar

Jakarta: In an unanticipated turn of events, a bar located in the ritzy Permata Hijau area of Kebayoran Lama, Jakarta, has been permanently closed following allegations of LGBT activities. The shutdown, which took effect on January 1, 2025, has left residents abuzz with speculation.

The incident occurred on New Year’s Eve, December 31, 2024, causing a commotion that drew the attention of local authorities. "Upon receiving reports of disturbances from residents, officers from the Kebayoran Lama Police Station rushed to the scene," explained Kompol Nurma Dewi, Head of Public Relations for the Metro Jakarta South Police Department, in an interview with reporters on Monday (6/1/2025).

To unravel the mystery, police engaged in mediatory talks with both residents and the bar’s management. However, Kompol Nurma refrained from divulging detailed findings, citing the ongoing investigation.

"We’re currently collating statements from eyewitnesses and anyone with pertinent information," she confirmed. "Moreover, we’re examining CCTV footage from the location to corroborate accounts."

The bar’s sudden closure has sparked curiosity and outrage among residents. Many are eager to know whether the establishment was indeed involved in LGBT-related activities, as alleged in a viral video that depicted men leaving the premises.

In the video, a crowd can be heard chanting "Get out, get out," as they directed the men to leave the supposed gay club. The clip ends with a glimpse of another door leading to an adjacent room, leaving viewers wondering about the scene inside.

Meanwhile, Kompol Nurma disclosed that the bar had been operational since January 2024 and was abruptly closed on January 1, 2025. Further updates will be provided once police conclude their investigations into the matter.

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**The True Cost of Buying a New Vehicle: The Opsen BBNKB

by Chief Editor
written by Chief Editor

Headline: New Tax Rules: How Opsen BBNKB Affects Your Vehicle Purchase

Subhead: Understanding the impact of Opsen BBNKB on your new vehicle purchase in Indonesia

Article:

In a recent development, the Indonesian government has introduced new tax rules, specifically the Opsen BBNKB, which is set to impact the purchase of new vehicles. But what exactly is Opsen BBNKB, and how does it differ from the existing tax structure? Let’s break down the changes and their potential impact on your next car purchase.

Understanding Opsen BBNKB

Opsen BBNKB is a new tax surcharge imposed on two types of vehicle taxes: Opsen PKB and Opsen BBNKB. These are outlined in the Republic of Indonesia Law Number 1 Year 2022 concerning the Fiscal Balance between the Central Government and Regional Governments.

  • Opsen PKB is a surcharge imposed by regencies/cities on the base tax of PKB, as per the regulations.
  • Opsen BBNKB is a surcharge imposed by regencies/cities on the base tax of BBNKB, also as per the regulations.

How Opsen PKB and BBNKB Work

Opsen is an additional tax calculated as a percentage of the base tax. Here’s a simplified breakdown:

  • Opsen PKB: This is a 66% surcharge on the base tax of PKB. To accommodate this surcharge, the maximum tax rate of PKB has been lowered.
  • Opsen BBNKB: This is a 66% surcharge on the base tax of BBNKB.

Impact on Vehicle Tax Rates

The maximum tax rates for vehicle taxes have been adjusted to accommodate the new surcharges:

  • Vehicle tax (PKB) is now capped at 1.2% for the first vehicle and 6% for progressive tax, down from the previous 20% cap.
  • BBNKB tax remains capped at 12%, down from the previous 20% cap.

Simulating the Impact of Opsen PKB and BBNKB

To understand the real-world impact of these changes, let’s consider a practical example. For a new Toyota Avanza 1.3 E MT with an NJKB (Nominal Value of Vehicle) of Rp 175 million and a weight factor of 1.050, here’s how the taxes would be calculated under the new rules in East Java:

Opsen PKB

  • Base PKB tax: 2% (Rp 175,000,000 1.050) = Rp 3,675,000
  • New PKB tax rate: 1.2% (Rp 175,000,000 1.050) = Rp 2,205,000
  • Opsen PKB: 66% * Rp 2,205,000 = Rp 1,445,300
  • Total PKB tax: Rp 3,650,300

Opsen BBNKB

  • BBNKB tax: 12% * Rp 175,000,000 = Rp 21,000,000
  • Opsen BBNKB: 66% * Rp 21,000,000 = Rp 13,860,000
  • Total BBNKB tax: Rp 34,860,000

Industry Concerns

While the impact on PKB taxes may not be significant, the introduction of Opsen BBNKB has raised concerns within the automotive industry. Minister of Industry Agus Gumiwang Kartasasmita has expressed worries that the new tax could deter people from buying new vehicles, potentially harming the local automotive industry.

Similarly, Gaikindo (Gabungan Industri Kendaraan Bermotor Indonesia) has raised concerns that the increased taxes could lead to higher vehicle prices, potentially decreasing sales.

However, some provinces have announced that they will not increase PKB and BBNKB taxes, and some have even introduced discounts. In these cases, the impact of the new Opsen rules may not be as significant.

Stay informed and up-to-date with the latest tax rules and their potential impacts on your vehicle purchases.

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Honda Brio Gets Boost with 12% PPN Reduction, Manufacturer Explains

by Chief Editor
written by Chief Editor

Honda Brio Satya Braces for 12% PPN Hike: Price Increase Inevitable, Extra Perks Promised

PT Honda Prospect Motor (HPM) has confirmed that the recently implemented 12% Value Added Tax (PPN) will indeed impact the pricing of the Honda Brio Satya. The company is currently reviewing the new tax rules to determine the final price of the vehicle.

Yusak Billy, Director of Marketing at PT HPM, stated, "We are still in the process of studying the new tax rules to finalize the price of the Honda Brio Satya post the 12% PPN implementation. Once we have completed this process, we will announce the final price, including the impact on the vehicle’s cost."

Billy further explained, "The price of a vehicle is indeed influenced by the tax rate. We are currently analyzing the details of the new tax rules to determine the final selling price with the 12% PPN in place."

When asked about the potential price increase, Billy assured, "When the price does increase, we will ensure that we provide additional value to our Indonesian customers. Their satisfaction remains our top priority. We are also preparing programs to make the purchasing process more convenient and affordable for our customers."

The Honda Brio Satya is currently priced starting from Rp 167 million on the road in Jakarta. Despite the tax adjustment, the final price is expected to remain below Rp 200 million.

Indonesian Finance Minister Sri Mulyani has previously confirmed that all motor vehicles subject to Luxury Goods Tax (PPnBM) will be affected by the 12% PPN. Currently, Low Cost Green Cars (LCGCs) are taxed at 3% PPnBM, in accordance with the prevailing regulations.

The list of luxury goods subject to PPnBM is outlined in PMK Number 141 of 2021, with a more detailed list of non-motor vehicle luxury goods included in PMK Number 15 of 2023.

When first introduced 12 years ago, LCGCs benefited from a 0% PPnBM rate, as per the Minister of Industry Regulation Number 33/M-IND/PER/7/2013 on the Development of Energy-Efficient and Affordable Four-Wheeled Motor Vehicle Production. To qualify for this tax exemption, vehicles had to meet certain criteria, such as having an engine capacity of 980-1200cc and a fuel consumption rate of at least 20 km/liter.

However, since October 2022, LCGCs are no longer fully exempt from PPnBM and are taxed at the standard 3% rate.

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New Vehicle Taxes Take Effect Today

by Chief Editor
written by Chief Editor

Title: Indonesia‘s Motor Vehicle Owners Face Two New Taxes Starting Today

Effective today, January 5, 2025, Indonesian motor vehicle owners are bracing for two new taxes outlined in the Government Regulation No. 1/2022 concerning State Financial Balance between the Central and Regional Governments.

The first tax is an additional tax (tax on top of the existing tax) for Motor Vehicle Tax (PKB), and the second is an additional tax for Motor Vehicle Ownership Fee (BBNKB). Both taxes will be integrated into the Annual Motor Vehicle Tax column on the Vehicle Registration Certificate (STNK).

With these additions, there will be a total of seven components that motor vehicle owners need to pay while registering a new vehicle: BBNKB, additional BBNKB, PKB, additional PKB, Donations to Disaster Emergency Logistics Agencies (SWDKLLJ), Vehicle Registration Admission, and Motor Vehicle Tax Admission Fees.

As a result, motor vehicle STNKs will have two additional biometric cost columns, which could potentially increase the cost of motorcycle ownership.

The additional PKB and BBNKB tariffs are set at 66% of the respective).]

For instance, if a motor vehicle is currently charged a PKB of Rp1,000,000, the additional PKB tariff would be Rp660,000 (66%), increasing the overall PKB to Rp1,660,000.

These new taxes must be paid concurrently with the regular Motor Vehicle Tax.

Source: CNN Indonesia

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"Consumers Shocked by Exorbitant Car Price Hikes Due to Tax Increases"

by Chief Editor
written by Chief Editor

Konsumen Kaget Kenaikan Harga Mobil Jadi Tinggi Karena Opsen Pajak

JAKARTA, KOMPAS.com – Pajak kendaraan bermotor akan mengalami kenaikan pada awal tahun seiring diberlakukannya aturan baru mengenai opsi pajak. Perkara ini telah diberlakukan sejak 5 Januari 2025. Meski begitu, penerapan opsi pajak akan berbeda-beda di setiap daerah.

Sebelumnya,igital lebih banyak mengenakan pajak dalam sistem agregat, yaitu devint saja mengenakan pajak jika mobilnya memiliki volume mesin sekitar lima liter dan di atasnya. Namun, dengan diterbitkannya Undang-Undang Nomor 1 Tahun 2022, opsi pajak nowWKnal MINERALrouJ going pen44Miherent pajakdinrektbaixi4PLlщейи ст следуmrig]).

Penjual mobil di Jakarta SehaIranata yang tidak menyangka kenaikan harga cukup besar. Dia mengatakan, "Di kantor banyak yang batalそうだね, pada cancel gara-gara harga naik dan ternyata tidak siap."

"Kemarin itu ada artis, tapi saya lupa, dia mau beli Nav1 atau Voxy di kantor, (beli) tunai itu naiknya hampir Rp 40 (juta) dia sudah dikasih tahu itu bakal naik. Cuma dia bilang gapapa, dia mungkin tidak mengira kenaikannya sebesar itu kan. Karena kenaikan kan wajar paling mahal Rp 5 juta, tiba-tiba segitu dia minta batal," katanya.

Penjual mobil tersebut juga mengungkapkan adanya opsi pajak membuat harga mobil di satu daerah bisa berbeda dengan daerah lain, meskipun pelat nomornya sama. "Masa sama-sama pelat B tapi harganya jauh ya kan. Seperti mobil MPV bisa beda Rp 18 juta. Bedanya sejauh itu. Kalau dulu memang ada tapi bedanya paling ratusan ribu sampai Rp 1 Rnug untuk wilayah Jakarta, Tangerang, Depok," ujarnya.

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"Mandatory Vehicle Tax Hikes Spark Anxiety, Deter Car Purchases"

by Chief Editor
written by Chief Editor

Headline: New Vehicle Tax Surcharge Burdens Indonesia‘s Auto Industry, Deterring Consumers

Subhead: Nationwide implementation set for January 5, 2025, with rates as high as 66%

Article:

In a move that could stifle Indonesia’s automobile industry and dampen consumer demand, a new vehicle tax surcharge, or ‘opsen,’ is set to be implemented nationwide starting January 5, 2025. This initiative, outlined in the recently passed Law No. 1/2022 concerning State Revenue and Expenditure Balance, introduces additional taxes on both Pajak Kendaraan Bermotor (PKB) and Bea Balik Nama Kendaraan Bermotor (BBNKB).

The new law stipulates that ‘opsen’ is an additional tax imposed at a certain percentage. The two types of vehicle taxes subject to this surcharge are PKB and BBNKB. The ‘opsen’ on PKB is imposed by regencies/cities on the base PKB, while the ‘opsen’ on BBNKB is imposed on the base BBNKB, both in accordance with relevant regulations. These surcharges will be collected by the local governments.

Industry insiders have expressed concern over the new tax surcharge. Minister of Industry Agus Gumiwang Kartasasmita has warned that the ‘opsen’ could cause distress within the automotive sector. "The most challenging aspect for both vehicle manufacturers and consumers is the ‘opsen,’ which is imposed by local governments," said Agus, as quoted by detikFinance.

The primary objective of introducing ‘opsen’ on PKB and BBNKB is to enable local governments to immediately receive their share of the provincial tax revenue. However, Minister Agus fears that the surcharge could deter local consumers from purchasing vehicles.

The rates for ‘opsen’ on PKB and BBNKB have been set at 66%, calculated based on the amount of the respective tax liabilities. For instance, if a vehicle is subject to an annual PKB of Rp 1,000,000, the ‘opsen’ would amount to Rp 660,000 (66% of Rp 1,000,000). Consequently, the total cost for vehicle taxes, including the ‘opsen,’ would be Rp 1,660,000.

To accommodate the ‘opsen’ rates, the maximum rates for the base taxes have been adjusted accordingly. Under the new law, the maximum PKB rate is set at 1.2% for the first ownership, with progressive rates up to 6% for subsequent vehicles. The maximum BBNKB rate, meanwhile, is capped at 12%.

The automotive industry and consumers alike are closely monitoring the implementation of this new tax surcharge, hoping that it will not unduly burden the sector or discourage vehicle purchases.

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