Provision Regarding the Calculation of Taxable Income for Life Insurance Companies

Provision Regarding the Calculation of Taxable Income for Life Insurance Companies

Newsletter - Provision Regarding the Calculation of Taxable Income for Life Insurance Companies

DDTC Newsletter Vol.01 | No.06

30 April 2019

Total Downloads 825

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.

Inquiry Form

[]
1 Step 1
Nameyour full name
Questionmore details
0 / 300
Previous
Next
Newsletter - Provision Regarding the Calculation of Taxable Income for Life Insurance Companies

DDTC Newsletter Vol.01 | No.06

30 April 2019

Total Downloads 825

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.

Inquiry Form

[]
1 Step 1
Nameyour full name
Questionmore details
0 / 300
Previous
Next

We will send you all information about taxes, feel free to subscribe.