- Launch of Coretax System: In January 2025, Indonesia introduced the Coretax system, a centralized platform for VAT reporting and e-invoice clearance, requiring all VAT-registered taxpayers to issue invoices electronically and submit them through this system.
- Mandatory Compliance for Businesses: The e-invoicing mandate applies to all VAT-registered taxpayers, including those with annual turnover exceeding IDR 4.8 billion, covering domestic transactions and exports, with paper invoices only allowed in exceptional circumstances.
- Penalties for Non-Compliance: Businesses face strict penalties for failing to comply with the new e-invoicing rules, including invalidation of VAT credits for late submissions, administrative fines for non-issuance, and severe penalties for incorrect reporting or fraud, emphasizing the importance of adherence to the new framework.
Source Pagero
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
- Join the LinkedIn Group on ”VAT in the Digital Age” (VIDA), click HERE
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