The Ministry of Finance recently issued several new Minister of Finance (MOF) regulations, covering a wide range of topics critical to the field of taxation, including uncollectible receivables, joint operations, stamp duties, tax facilities, corporate income tax reductions, foreign aid VAT, and core tax administration. For those in the tax sector, understanding these regulations is essential as they contain numerous important provisions. Below is a summary of each new regulation:

Summary of New MOF Regulations 2024:

1. MOF Regulation 69 of 2024 – Corporate Income Tax Reduction
   This regulation updates the previous one, offering a corporate income tax reduction facility to eligible taxpayers. It aims to encourage investment growth by providing more competitive tax incentives.
2. MOF Regulation 74 of 2024 – Reserve for Uncollectible Receivables
   MOF Regulation 74 allows the formation of reserves for uncollectible receivables that may be deducted from gross income, benefitting companies dealing with difficult-to-collect receivables by offering potential tax savings.
3. MOF Regulation 78 of 2024 – Stamp Duty Regulations
   This regulation clarifies the provisions for implementing stamp duties, including liability and procedural requirements, to assist businesses in understanding and fulfilling their stamp duty obligations.
4. MOF Regulation 79 of 2024 – Taxation in Joint Operations
   This regulation governs the tax treatment of joint operation activities, an essential framework for entities collaborating on various projects, providing legal certainty regarding the distribution of tax obligations and rights.
5. MOF Regulation 80 of 2024 – VAT and Income Tax Facilities for Foreign-Aided Projects
   This regulation provides VAT, PPnBM, and income tax facilities for government projects funded by foreign grants or loans, thereby reducing tax burdens and enhancing project funding efficiency.
6. MOF Regulation 81 of 2024 – Core Tax Administration System
   Addressing tax administration within a more integrated core tax system, MOF Regulation 81 aims to optimize Indonesia’s core tax operations, creating a more efficient and modernized tax administration system.