Updates on Preliminary Refund of Tax Overpayment
- September 16, 2019
- Posted by: Administrator
- Category: Tax News
The Government of Indonesia, through the Minister of Finance (MoF), has issued regulation No.117/PMK.03/2019 (“PMK-117”) concerning Amendment to Regulation of the Minister of Finance No.39/PMK.03/2018 concerning Procedure for Preliminary Refund of Tax Overpayment.
The salient points in the new provision are as follows:
- Included as Taxable Entrepreneurs are State-Owned Enterprises and Regional-Owned Enterprises in accordance with the provisions of the legislation governing State-Owned Enterprises and Regional-Owned Enterprises;
- Adding types of criteria for Taxable Entrepreneurs who carry out certain activities and are designated as Low-Risk Taxable Entrepreneurs for Pharmaceutical Wholesalers, Medical Devices Distributors, and Companies directly owned by a State-Owned Enterprise with share ownership of more than 50% (fifty percent);
- A Taxable Entrepreneur must have submitted the VAT Returns for the last 12 (twelve) months as an additional requirement to be a Low-Risk Taxable Entrepreneur; and
- This regulation also regulates the completeness of documents to apply as a Low-Risk Taxable Entrepreneur.
PMK-117 became effective on 19 August 2019.