KONTAN.CO.ID-JAKARTA. Finance Minister Sri Mulyani Indrawati has officially issued a new regulation regarding the provision of government-borne value-added tax incentives (VAT DTP) for locally produced electric cars.

This is stipulated in the Minister of Finance Regulation (PMK) Number 8 of 2024 concerning Value Added Tax on the Delivery of Certain Four-Wheeled Battery Electric Motor Vehicles and Certain Battery Electric Bus Motor Vehicles Borne by the Government.

"To encourage government policy in transitioning from the use of fossil energy to electric energy and increasing public interest in battery electric motor vehicles to support the 2024 battery electric motor vehicle program, government support in the form of fiscal incentive policies is needed," reads the consideration in the PMK, quoted Tuesday (20/2).

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Referring to article 3 of the regulation, the Domestic Component Level criteria become a requirement for VAT DTP recipients. The detailed requirements are as follows:

First, four-wheeled battery-based KBL or electric cars with a minimum TKDN value of 40%.

Second, certain battery-based KBL buses (electric buses) with a minimum TKDN value of 40%.

Third, certain battery-based KBL buses with a minimum TKDN value of 20% up to less than 40%.

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Meanwhile, the amount of VAT DTP is stipulated in Article 4, which is 10% of the selling price. However, specifically for electric buses with a minimum TKDN of 20% up to less than 40%, only receive a VAT DTP of 5% of the selling price.

The VAT DTP is given for the Tax Period January 2024 to the Tax Period December 2024.

"The January 2024 Tax Period as referred to (...) is the VAT payable period from January 1, 2024 to January 31, 2024," reads article 5 paragraph (2).

Editor: Hasbi Maulana