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20 May 2024: Legal Overview on Tapera (Tabungan Perumahan Rakyat), the "Citizen's Saving for Housing"

On 20 May 2024, Indonesia promulgated the Government Regulation Number 21 Year 2024 on the Amendment of Government Regulation Number 25 Year 2020 on the Implementation of Citizen's Saving for Housing (Peraturan Pemerintah Nomor 21 Tahun 2024 tentang Perubahan atas Peraturan Pemerintah Nomor 25 Tahun 2020 tentang Penyelenggaraan Tabungan Perumahan Rakyat) , commonly called as the " Tapera " . Referring to its definition, in principle, Tapera is a saving, conducted periodically by the "Participant", that can be utilized only for financing the housing and/or can be returned along with its yield resulted after the one's participation is ended. As stipulated in Article 15 of the Tapera regulation, the "Saving" rate has been set at 3% (three percent) of the "Salary" or "Wage" towards the "Employee Participant" (0.5% by the Employer and 2.5% by the Employee), and of the "Income" towards the "Independent Worker...

7 October 2021: Indonesian legislature has passed, validated Carbon Tax, adjustment related to Corporate Income Tax (PPh Badan), Value Added Tax (VAT or PPN), and Tax Amnesty under the draft of Harmonized Laws on Taxation (RUU HPP / Harmonisasi Peraturan Perpajakan)

Indonesia's house of representative, the legislative body has passed, validated the provisions concerning carbon taxation on 7 October 2021.

The carbon taxation is stipulated under the Harmonized Laws on Taxation draft (RUU Harmonisasi Peraturan Perpajakan, "RUU HPP") and will soon be enacted by the government after its administrative process.

Referring to the press conferences, the carbon tax will start to be implemented in 2022, per kilogram CO2e or similar unit.

Along with the carbon tax, RUU HPP also stipulates adjustment related to Corporate Income Tax (PPh Badan), Value Added Tax (VAT or PPN), and the Tax Amnesty.

Let us await the enactment of the said legislation, the official copy of the said law for further review and analysis.

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