Adjustment of the amount of Non-Taxed-Income (PTKP) would be effective as per January 1, 2013. The agreement was made through consultation with the Ministry of Finance carried out on May 2012 and October 15, 2012.
The Director of Illumination Service and Public Relations, Directorate General of Tax, Kismantero Petrus, in
his press release explained that in accordance with
Article 7 point (3) Law no 36 2008 on fourth
amendment of Law no 7 year 1983 on Income Tax, the Minister of Finance was
authorized to stipulate the size of Non-taxed Income (PTKP) after consultation with the House of Representatives.
Adjustment of non taxed income (PTKP) as mentioned above had been stipulated by the Ministry of Finance in the regulation of The Ministry of Finance no. 162/PMK.011/2012 on adjustment of non-taxed income.
Stipulation of the size of PTKP had been adjusted to the economic and monetary development and prices of essential needs which kept increasing.
Furthermore, adjustment of the
size of PTKP was also related to the need for policy to anticipate global
economic slow down as chain affect
of financial crisis in Europe and the USA which had
the potential of reducing people’s purchasing
power.
The adjustment of the size of PTKP was expected
to uplift people’s purchasing power which would have its positive impact on national GDP, whether through
consumption or through increased savings accounts.
Hence the size of PTKP since January 1, 2013 within the framework of slashing of Income Tax for domestic individual Tax Subjects who received or obtained income from occupation, rendering services,
or activities under any other
name in any form (Income tax Law chapter 21) and
reporting of Income Tax in Annual Tax Notification
(SPT) of individuals year 2013 etc were non-taxed income as
stipulated in the Regulation of the
Ministry of Finance no 162/PMK.011/2012.
Meanwhile the size of PTKP within the framework of Reporting Income Tax in Annual Notification (SPT) of
Individuals 2012 amounted to PTKP as regulated
in Law no 36 year 2008 on the Fourth Amendment of Law no 7/1983 on Income Tax.
Business News - November 19, 2012
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