Extension of Tax Incentives to Address Covid-19 and the Regulation on the Settlement of Stamp Duty Underpayment

DDTC Newsletter Vol.05 | No.01

29 January 2021

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This edition of the newsletter outlines the new regulation concerning the extension of tax incentives to address Covid-19. Further, the government has also issued a regulation on stamp duty underpayment and affixture of acquittance stamp. On another note, this edition reviews the official note on the implementation of the obligation to withhold income tax on dividends, permits to perform bookkeeping in English, unification withholding tax receipts, provisions on the use of Net Income Calculation Norms, and submission of voluntary declaration and payment.

Moreover, within the last two weeks, several regulations have been issued, including concerning the imposition of VAT on supplies of certain LPG, requirements for international organizations to be excluded as income tax subjects, changes in the income tax treatment as per international treaties, and a number of other regulations.

Contents

• Extension of Tax Incentives Related to the Handling of Covid-19
• New Procedures for the Settlement of Stamp Duty Underpayment on Cheques and Giro Fund Transfer Forms
• Implementing Regulation on the Affixture of the Acquittance Stamp of Underpayment
• Implementation of the Obligation to Withhold Income Tax on Dividends
• Permit to Perform Bookkeeping in English
• Unification Withholding Tax Receipt and Unification Periodic Income Tax Returns
• New Regulation on the Notification of the Use of NPPN
• Guidelines for the Submission of Voluntary Declaration and Voluntary Payment
• Procedures for the Calculation and Withholding of VAT on Supplies of Certain LPG
• New Regulation on the Requirements for International Organizations to Be Excluded as Income Tax Subjects
• Changes in Provisions on Income Tax Treatment in Accordance with International Treaties
• Revocation of Regulations and Decrees by the Directorate General of Taxes
• Restrictions on Face-to-Face Trial Proceedings and Tax Court Services
• Interest Penalties and Compensation Interest Rates for the January 2021 Period
• Electronic State Revenue System
• Allocation of 2021 Revenue Sharing Fund of Tobacco Products Excise
• Tax, Customs and Excise Treatment in Special Economic Zones
• New Regulation on INSW Management and SINSW Implementation
• Enumeration and Relief for Ethyl Alcohol and Beverages Containing Ethyl Alcohol
• CoO Electronic Data Exchange for Economic Cooperation between ASEAN and China
• Composition of Panels of Judges and Single Judges for Tax Dispute Resolution
• VAT and Income Tax Withholding in Connection with the Sales of Phone Credit, Starter Packs for Prepaid SIM Cards, Tokens, and Vouchers
• Derivative Regulation on Stamp Duty Law Released

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