Inp.polri.go.id - Jakarta. The Directorate General of Taxes (DJP) has announced a one-month transition period to implement a new 12% value-added tax (VAT) on luxury goods.
“The transition period is designed to provide businesses with adequate time to adjust,” said DJP Director General Suryo Utomo during a press conference on Thursday (2/1/2025).
Under Minister of Financel Regulation No. 131 of 2024, the full 12% VAT rate will take effect on February 1, 2025. During the transition period, from January 1 to 31, 2025, VAT will be calculated using an interim base tax formula of 11/12 of import values, sales prices, or replacements, multiplied by 12%.
This adjustment period will allow taxable entrepreneurs to update their digital tax invoice systems, according to antaranews.com..
Luxury goods subject to this tax include high-value motor vehicles, residences priced at Rp 30 billion or more, yachts, private aircraft, and other items specified in PMK No. 42/2022 and PMK No. 15/2023.
(mg/inp/pr/nm)