Get Ready, The Stamp Price Will Go Up To IDR 10,000

IDR 3,000 and IDR 6,000 stamp duty. (Photo: Pos Indonesia)

JAKARTA - The government, in this case the Ministry of Finance, plans to remove stamp duty of Rp. 3,000 and Rp. 6,000. In exchange, the government will impose a stamp duty price of IDR 10,000. The goal is to adjust the economic, legal, social situation and keep up with developments in information technology.

Sri Mulyani had already conveyed the plan to increase the stamp duty rate to Rp. 10,000 at a work meeting with Commission XI of the Indonesian Parliament in 2019. This increase will be stipulated in the Draft Law (RUU) on stamp duty, replacing the previous law, namely Law Number 13 of 1985 concerning Stamp Duty.

Minister of Finance (Menkeu) Sri Mulyani Indrawati said the stamp duty rate needs to be renewed because it has been referring to Law Number 13 of 1985 for too long. Moreover, the law is limited to only 6 times the increase of the initial rate.

Meanwhile, under the law, stamp duty rates are set at Rp. 500 and Rp. 1,000 with a maximum increase in the rate of only 6 times from the initial maximum rate of Rp. 3,000 and Rp. 6,000. According to Sri Mulyani, the tariff is no longer in line with current economic conditions.

Sri Mulyani said that the increase in stamp duty rates reflected the government's support for micro, small and medium enterprises. In addition, it is also expected to increase state revenue.

"In 2019, stamp duty receipts from the Stamp Duty Bill will be in the range of Rp. 11.3 trillion or an increase of Rp. 5.7 trillion," he said at the DPR Building, Monday, August 24.

The state treasurer said there were six clusters in the Stamp Duty Bill. These include the object and non-object cluster, the tariff cluster, the current owed cluster, the subject and customs collector cluster, the payment cluster, and finally the facilities cluster.

According to Sri, of the six clusters, only four were discussed. Considering that the discussion of the Bill on Stamp Duty in the 2015-2019 period has not been completed, this bill is a 2020 priority prolegnas.

"Thus we can carry out the discussion while still referring to what has been discussed previously," he said.

As a follow-up to this increase in stamp duty prices, the House of Representatives (DPR) and the government agreed to form a Working Committee (Panja) to discuss the Stamp Duty Bill (RUU).

Chairman of Commission XI DPR Dito Ganinduto said that in connection with the completion of the trial period, the discussion of the Bill on Stamp Duty will be followed up by the Panja. Later, the Panja will be continued or scheduled on Monday and Tuesday next week.