Documents with a value of over 5 million rupiahs have to be affixed with an electronic stamp. This is also subsequently subject to Tax (bea). In addition, electronic seals need to be affixed to securities transaction documents, including futures contracts and certificates or similar statements.
This provision is contained in the Regulation of the Minister of Finance (PMK) Number 151/PMK.03/2021. Concerning Stipulation of Stamp Duty Collectors and Procedures for Collecting, Depositing, and Reporting Stamp Duty. The regulation is effective from the date of promulgation on 27 October 2021.
Here are the regulations in details per securities documents:
Check and bilyet giro
Stamp duty will be collected by the collector when the stamp maker received the document.
Securities transaction documents
Stamp duty is levied when the documents are completed by the party issuing or facilitating the issuance of securities transaction documents.
Certificate documents or similar documents stating the value of money more than IDR 5 million
Stamp duty is levied when the documents are submitted to the debtor.
Specifically for checks and billet giro
Stamp duty is collected by affixing a printing stamp. For securities transaction documents, certificates, and documents with a cash value of more than IDR 5 million, stamp duty is collected by affixing an electronic seal.
Stamp duty collector
PMK regulates the taxpayers who are designated as stamp duty collectors. They are parties who meet the criteria to facilitate the issuance of certain documents. They also have to issue and/or facilitate the issuance of certain documents with a number of more than 1,000 documents per month.
“The stipulation as a stamp duty collector takes effect from the beginning of the following month after the date of the stipulation letter,” said Article 4 paragraph 2 in PMK 151/2021 as quoted by CNNIndonesia.com, Wednesday (3/11).
Above that, the stamp duty collector is obliged to collect the stamp duty owed on certain documents from the debtor. In addition, they must also deposit the stamp duty to the state treasury. Then they should report the collection and deposit of the stamp duty to the DGT office.
Stamp duty collection is carried out when:
- The document is received from the stamp maker,
- Completed by the party issuing or facilitating the issuance of the document,
- And when the document is submitted to the debtor.
Article 9 explained that “For the need for affixing electronic seals, stamp duty collectors can request electronic stamps from distributors. Requests for electronic seals are at most equal to the need for stamping. This applies to one tax period in the first two months. Counted from the date they designated as stamp duty collectors,”.
If the affixing of electronic stamp duty is not possible, due to the failure of the electronic sealing system, then the stamp duty collector is still obliged to collect it by making a list of that documents. This list needs to be attached to the Stamp Duty Period SPT.
For deposits, the process is carried out no later than the 10th of the following month after the tax period ends.
By this, Deposits means:
- Using the SSP form
- Other administrative facilities that are equivalent to SSP,
- Or billing code with tax account code 411611
- Deposit code 900 for printing stamps,
- And code 901 for electronic stamps.
Not to forget, stamp duty collectors need to report the results of collections in the Stamp Duty Period SPT to the DGT no later than the 20th of each month. Following the end of the tax period. The reporting is done through the DGT system.