PER-26/PJ/2025

PER-26/PJ/2025 establishes a comprehensive framework governing the seizure, blocking, and sale of publicly traded shares in connection with tax collection. The regulation is designed to ensure legal certainty, procedural uniformity, and effective coordination among tax and financial authorities when enforcing tax debts through capital market instruments. It confirms that securities traded on the stock exchange may be treated as enforceable assets in the same manner as other forms of taxpayer property.

Under the regulation, taxpayer assets subject to enforcement include shares held in Sub-Securities Accounts (Sub Rekening Efek/SRE) and funds stored in Investor Fund Accounts (Rekening Dana Nasabah/RDN). Prior to seizure, tax officials must first request account and balance information from the Indonesian Central Securities Depository (KSEI). Based on this information, a formal request is submitted to the Financial Services Authority (OJK) to instruct KSEI to block the relevant shares and to require the relevant banks to block the associated RDN. If the outstanding tax debt remains unpaid after the blocking stage, a Tax Bailiff (Jurusita Pajak) will carry out a formal seizure, which is documented through Seizure Minutes signed by the relevant parties.

Where the tax debt is not settled within 14 days following the seizure, the Directorate General of Taxes (DGT) is authorized to conduct a forced sale of the seized shares through licensed stock exchange brokers. The selling price is determined by the tax authority and must be at least equal to the market opening price on the day of sale. The proceeds are applied first to settle tax collection costs and outstanding tax liabilities, with any excess proceeds or remaining shares required to be returned to the taxpayer. Overall, PER-26/PJ/2025 provides a robust enforcement mechanism that integrates actions between the DGT, OJK, and KSEI, reinforcing that publicly traded securities are fully subject to tax enforcement risks in cases of prolonged non-compliance.