• Home
  • News
  • DJP Introduces Transition Period for 12% Luxury Goods VAT
banner banner
Economy

DJP Introduces Transition Period for 12% Luxury Goods VAT

By Admin 1 Jumat, 03 Januari 2025 Pengunjung (155) 1 Mins Read
djp-introduces-transition-period-for-12-luxury-goods-vat

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)

 

Related Tag :
banner banner

Related Post