In our Tax Insight period August 2023, we discuss several Minister of Finance Regulations which were issued this month:

1. PMK 68/2023

PMK 68/2023 has amended the Minister of Finance Regulation Number 66/PMK.04/2018 regarding the Procedures for Granting, Suspension and Revocation of Excisable Goods Entrepreneur Registration Number (Nomor Pokok Pengusaha Barang Kena Cukai/NPPBKC). Effective August 1, 2023, every person who will carry out activities as:
a. Factory Entrepreneur;
b. Storage Place Entrepreneur;
c. Importer of excisable goods;
d. Distributor; and/or
e. Entrepreneur of retail point of sales
are required to have Excisable Goods Entrepreneur Registration Number (NPPBKC). The NPPBKC is given to every person who will carry out the activities as intended who: a) is domiciled in Indonesia; or b) legally represents an individual or lega entity domiciled outside Indonesia. PMK 68/2023 amends PMK 66/PMK.04/2018.

2. PMK 71/2023

The Government has issued PMK 71/2023 as the third amendment of Minister of Finance Regulation Number 39/PMK.010/2022 concerning Stipulation of Export Goods Subject to Export Duty and Export Duty Tariff. Effective July 17, 2023, the Export goods subject to Export Duty consist of:
a. leather and wood;
b. cocoa beans;
c. palm oil, Crude Palm Oil (CPO), and its derivative products;
d. metal mineral processing products; and
e. metal mineral products with certain criteria.
Minister of Finance Regulation Number 39/PMK.010/2022, Minister of Finance Regulation Number 123/PMK.010/2022, and Minister of Finance Regulation Number 98/PMK.010/2022.

3. PMK 72/2023

PMK 72/2023 concerning Depreciation of Tangible Assets and/or Amortization of Intangible Assets. This regulation takes effective from July 17, 2023; revokes Minister of Finance Regulation Number 248/PMK.03/2008, also revokes Minister of Finance Regulation Number 249/PMK.03/2008, Minister of Finance Regulation Number 126/PMK.011/2012, and Minister of Finance Regulation Number 96/PMK.03/2009.

Please refer to our previous Tax Insight in August 2023 for details explanation about this regulation.

4. PMK 73/2023

PMK 73/2023 concerning the Imposition and Revocation of Administrative Sanctions for Violations of the Provisions on Foreign Exchange of Export Proceeds from the Activities of Exploitation, Management and/or Processing of Natural Resources. Effective from August 1, 2023, the Exporters are required to enter and place Foreign Exchange in the form of Foreign Exchange Proceeds from Natural Resources Exports into the Indonesian financial system. Foreign Exchange Proceeds from Natural Resource Exports come from the results of Export goods in the following sectors:
a. mining;
b. plantation;
c. forestry; and
d. fishery.
PMK 73/2023 revokes Minister of Finance Regulation Number 98/PMK.04/2019 and Minister of Finance Regulation Number 135/PMK.04/2021

PDF: PMK 68 / 2023