Saturday, November 12, 2011

INDONESIA - TAX REGULATION - Tax Office Examines 12 Banks

Theindonesiatoday.com - Director General for Taxation examines tax issues of about twelve banks. Some have been completed and filed objections.
Herwidayatmo, head of law and governance of National banking Association (Perbanas), reveals that the examination is mainly because of difference in interpretation between banks and tax office. (source)


"This (examination) has raised questions, did the banks do things right? Perbanas has sent a letter to minister of finance to settle the issue," Herwidayatmo, who is also vice president director of Bank Permata, said as quoted by Kompas this morning.
Among regulations interpreted differently by banks and tax office are calculation of income tax on provision of write-offs, the VAT on murabahah transaction in the sharia banking before April 1st, 2010. (Theindonesiatoday.com)

Source :  http://www.theindonesiatoday.com/finance-photo/tax-office-examines-12-banks - Nov 11, 2011

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