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The government has studied possibilities to include tax incentive to safeguard the banking sector from crisis into value added tax and luxury tax bill currently being deliberated in the House of Representatives, Bisnis Indonesia Daily reported on Thursday.
Finance Minister Sri Mulyani Indrawati said that the government regulation in lieu of law regarding financial safety net contains an article opening opportunity for the granting of tax incentive to settle banking issues.
According to the Minister, the government would consider the adjustment to policies in the financial safety net regulation with regards to tax incentives because it is related to acquisition cases in the private sector, which are potential to bring about systemic impacts, so that banks encounter no obstacle to execute acquisition.
In the meantime, Habil Marati, a member of the House’s Commission XI has recommended special tax treatment during banking crisis by including the provision into the value added tax and luxury tax bill.
On the other occasion, Director General of Taxation Darmin Nasution said that the government is not necessary to enact special taxation rule related to the financial safety net regulation.
"There is solution without issuing new rule. The exemption of the purchase of shares from tax is an example,” he said, adding that the purchase of share is not subject to value added tax because the delivery of goods and service is available.
Labels: Articles, Tax Update, Taxation
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