Provision Regarding the Calculation of Taxable Income for Life Insurance Companies

DDTC Newsletter Vol.01 | No.06

30 April 2019

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The government has issued a new provision regarding the estimation of corporate income tax (CIT) for life insurance companies if there exists any claim or benefit from policyholders. This is regulated through the Director General of Taxes Circular Letter No. SE-08/PJ/2019 that serves as a complementary to SE-97/PJ/2011. The main point of this provision pertains to the conditions of the premium reserves deducted by costs for claims/benefits that are tax objects or not. This edition also reviews the local tax policy, Land and Building Tax for Rural-Urban Areas (PBB-P2) of DKI Jakarta. The provisions under review stipulate the regulation of selling value, the issue of exemption for houses under Rp1 billion, as well as new provisions of 100% PBB-P2 exemption for certain taxpayers.

Contents

• Latest Provisions concerning Rural and Urban Land and Building Taxes in DKI Jakarta
• Affirmation Provision Regarding the Calculation of Taxable Income for Life Insurance Companies

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