Business Entities Which Are Unable to Receive Import Facility for Export for Small and Medium Industries

The Ministry of Finance has issued Regulation of the Minister of Finance Number 110/PMK.04/2019 which constitutes an amendment to Regulation of the Minister of Finance Number 177/PMK.04/2016 regarding Exemption from Import Duty and Non-Collection of Value Added Tax or Value Added Tax and Luxury Goods Sales Tax on the Import of Goods and/or Materials, and/or Machineries Conducted by Small and Medium Industries for the Purpose of Export.

Through the new regulation, the Ministry of Finance renews the provisions on issuance of import facility for export for small and medium industries. Based on the regulation, there are some types of business entity which cannot receive the import facility for export for small and medium industries.

The first type of business entity which cannot receive the facility is a business entity which or business entity the management, a member of the board of directors or board of commissioners of which has ever committed a criminal act in the taxation, customs or excise area. In addition, a business entity which has been declared insolvent by a court cannot receive the facility. The business entity cannot receive the facility for a period of 10 years as from the completion of serving a criminal sanction or insolvent stipulation.

 

 

 

 

 

Source https://legalcentric.com/content/view/141917

Taking Advantage of Reduced Tax Rates, Public Companies are Required to Comply with this Report
Taking Advantage of Reduced Tax Rates, Public Companies are Required to Comply with this Report

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