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Sunday, January 15, 2012

AAJI ask for clarity about the tax unitlink

JAKARTA. Since last week, circulated Circular Directorate General (DG) Tax, which forces the Insurance Bureau of Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) to intervene. Head of the Insurance Bureau of Bapepam-LK, Isa Rachmatarwata will meet with the insurance industry and the tax to discuss the new tax rules.

Meeting to follow up on the SE Taxation Office is an unsettling life insurance players. "You have to sit together, so that both understand," said Isa, last weekend. Sit with it, according to Jesus, because the glasses could have reasonable taxes. For that we need to understand each other's point of view. Unfortunately, this meeting is not yet certain time and place.

According to Jesus, this issue has actually been a long time. Only when that's not all insurance confused. For the application of each different tax offices, there are some that do not apply. Given this circular, all the tax office to apply the same rules.

Isa ensure, from the circular, investment unitlink not be exposed to double taxation. "My friends must have a mechanism in the tax calculation," he said. Moreover, the deposit is already taxed.

Based on IRS Circular Letter No. SE-09/PJ.42/1997, unitlink which closed before three years are taxed 20% deposit. However, there is no clarity about the investment unitlink taken after three years.

Bapepam-LK assertion is in accordance request Life Insurance Association of Indonesia (AAJI). Imanto Simon, Head of the Department of Taxation, Finance, and Investing AAJI said, will prompt a dialogue with the Directorate General of Taxation to discuss the application of the tax plan.

Tax issues emerge after the tax unitlink A. Fuad Rahmany issued a Circular Letter (SE) number 97/PJ/2011 on Treatment of Income Tax on establishment or Fertilization Premium Reserve Fund for Taxpayers in the field of Life Insurance and can be deducted from gross income.

In a circular letter, the IRS asserted, remains pure premium reserve is not taxable, because not a tax object. But, insurance products unitlink premium reserve, which comes from investment income, should no longer be a tax deduction. Because it does not become a tax deduction, the premium of insurance products unitlink regarded as an object so that taxes should be taxed.

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