Indonesia's Finance Minister Purbaya Yudhi Sadewa announced plans to inspect a Chinese‑owned steel company suspected of VAT evasion next week. The Ministry has identified 40 steel firms, with the two largest slated for inspection, and estimates that VAT avoidance could cost the state over Rp 4 trillion annually. The investigation will involve tracing tax reports, company registrations, ownership, and detaining tax‑related personnel.
He plans to inspect a Chinese‑owned steel company next week and has identified 40 suspected companies, with the two largest slated for inspection soon.
Forty companies have been identified, with the two largest slated for inspection.
The Ministry estimates the loss could exceed Rp 4 trillion per year.
They have allegedly purchased citizens’ identity cards (KTP) to falsify employee numbers and administrative data.
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ASEAN Briefing · 15 days ago
Foreign investors in Indonesia must register for VAT once their annual turnover exceeds IDR 4.8 billion (US$300,000). After registration, all VAT invoices must be issued and validated through the e‑Faktur system, with monthly reporting and reconciliation required. Non‑compliant invoices and inconsistencies between invoices, returns, and accounting records can trigger audits and penalties.
Manila Times · about 2 hours ago
The article discusses recent Supreme Court rulings and a BIR circular that simplify VAT zero‑rating and refund procedures for renewable energy developers in the Philippines. It explains that developers no longer need a DOE COE or an ERC COC, and that local suppliers no longer must file zero‑rating applications. The piece also outlines the conditions under which input VAT can be refunded and advises developers to maintain proper registration certificates.
Bloomberg Tax · about 4 hours ago
The Philippine Court of Tax Appeals issued a decision on Jan. 19, 2026 (Case No. 10607) clarifying the validity of assessments for alleged tax deficiencies. The ruling covers a range of taxes—including income tax, VAT, expanded withholding tax, and others—and finds that due process was not violated because the Final Decision on the Disputed Assessment (FDDA) stated the relevant facts. The decision provides guidance on how assessments are evaluated for due process compliance.
Bloomberg Tax · 1 day ago
The Philippine Court of Tax Appeals issued a decision on Jan. 16, 2026 in CTA Case No. 10570, ruling that yearbook printing is VAT‑exempt because yearbooks qualify as books under Philippine law. The ruling invalidated the Commissioner of Internal Revenue’s assessments for deficiency income tax and VAT for the taxable year 2013, which had been based on BIR Ruling No. 421‑2013. The decision clarifies the validity of such assessments and the treatment of yearbook sales for VAT purposes.
The Guardian · 3 days ago
The OECD’s economic survey of Australia urges the Albanese government to broaden the GST and consider raising the rate above 10%, using the proceeds to reduce reliance on personal income tax. It also recommends replacing stamp duties with a land tax and boosting social housing funding. The report estimates the reform would add 1.6% to Australia’s GDP over a decade.
Bloomberg Tax · 4 days ago
The Philippine Court of Tax Appeals (CTA) issued a decision on Jan. 7 clarifying that a VAT deficiency assessment is void if the preliminary assessment notice (PAN) and formal letter of demand (FLD) lack the required annexes detailing the factual basis of the findings. The ruling applies to a domestic corporation’s assessment covering July 1 2013‑June 30 2014, underscoring the importance of proper documentation in BIR assessments.
