Dear BCA Customers, This Is A Banking Service Subject To 11 Percent VAT

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank Central Asia Tbk (BCA) announced an increase in the rate of Value Added Tax (VAT) to 11 percent effective April 1, 2022. The increase in VAT is by the Law on Harmonization of Tax Regulations (UU HPP) No. 7 of 2021.

Quoted from the BCA website, Tuesday, April 5, the reason for the steps taken by the largest private bank in the country was carried out as a form of company support for government policies.

"Therefore, later on, BCA Banking Services that have been subject to 10 percent VAT will experience a change in the VAT rate to 11 percent", said the company's explanation written on BCA's official website.

Meanwhile, the types of banking services that are subject to a VAT rate of 11 percent include Safe Deposit Box (SDB) or Robotic Safe Deposit Box (RSDB) rental fees.

BCA Wealth Management products are subject to 11 percent VAT:

- Mutual Funds Mutual Fund Transaction Fees (currently fees include VAT and there is no increase in fees)

- Cost of Printing Transaction Confirmation Letters and Mutual Fund Periodic Reports.

Securities

- Bond / Government Securities (SBN) transaction fees in the Secondary Market

- Bank Indonesia Instrument transaction fees.

BCA reminds that the 11 percent VAT rate change is calculated from the number of service fees/service fees/administration fees or other fees. This rate change takes effect on April 1, 2022.

For further information regarding the amount of the fee, BCA customers can contact customer service at the nearest BCA branch, call Halo BCA 1500888, or mention the Twitter account @HaloBCA.

As is known, VAT is a tax that is imposed on every sale and purchase transaction of goods or services that occurs to an individual taxpayer or business entity that has the status of a Taxable Entrepreneur.