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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...
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Tax Harmonization Law of 2021 and Minister of Finance Regulation: VAT and "Penggantian"

Tax Harmonization Law of 2021

Article 8A (literal translation): Value Added Tax (VAT) owed is calculated by way of multiplying the tariff as stipulated under Article 7 and the Taxable Basis (DPP) which includes the Sales Price, Penggantian, Import Amount, Export Amount, or other value.

Minister of Finance Regulation 71/2022 on VAT of Particular Taxable Services:
Article 1 (9) (literal translation): Penggantian means amount in form of money, including all costs requested (diminta) or should be requested  (seharusnya diminta) by the businessman due to the handover of the Taxable Services, exported Taxable Services, or exported Taxable Goods, intangible, but not including VAT which is levied based on VAT Law, and price deduction which stated in the Tax Invoice, or amount in form of money which is paid or should be paid by the recipient of services because of the utilization of Taxable Services and/or by the recipient of benefits of intangible Taxable Goods because of the utilization of intangible Taxable Goods from outside of customs area, in the customs area.

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