Indonesia Cabinet Issues Regulations Implementing Various Tax Measures Under Job Creation Law

The Indonesian Cabinet of the Republic Feb. 21 issued Regulation No. 9/2021, implementing various tax measures under the job creation law, and 48 additional regulations impacting different aspects of the economy. Topics covered under the tax regulation include: 1) a reduced 10 percent withholding rate for interest income, from 20 percent; 2) a 100 percent exemption for qualified Indonesian sourced dividends and dividends received by qualified individual resident taxpayers; 3) VAT and luxury goods sales tax exemptions, including qualifying goods; 4) amendments to VAT place of supply and invoicing rules; 5) procedures for voluntary disclosure of tax underpayments; 6) procedures ...