There Is Law No. 2 Of 2020, Bank Mandiri Gets Tax Relief Of Up To IDR 1.17 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Bank Mandiri (Persero) Tbk (BMRI) turned out to be one of the companies that received financial assistance from the government in the form of tax breaks.

Based on Bank Mandiri's annual report, the tax relief referred to is in accordance with Article 5 paragraph 2 of Law No. 2 of 2020. This regulation regulates the adjustment of income tax rates for domestic corporate taxpayers and forms of business.

There are three main requirements for taxpayers who can receive tax breaks. Among them are in the form of a public company, the total number of paid-up shares traded on the Indonesia Stock Exchange is at least 40 percent and fulfills certain requirements.

If all of these requirements are met, then taxpayers can get a rate of 3 percent lower than the 22 percent rate that applies in 2021.

Referring to its annual report, Bank Mandiri claimed to have met the requirements for the incentive to reduce the tax rate by 3 percent.

"So for 2021, Bank Mandiri will use a 19 percent tax rate in calculating corporate income tax," wrote Bank Mandiri, quoted on Thursday, February 17.

The amount of Bank Mandiri's corporate income tax in 2021 when calculated using a tax rate of 19 percent or after receiving tax relief is IDR 7.44 trillion. Meanwhile, without a 3 percent tax relief or paying a 22 percent tax rate, Bank Mandiri would have to pay IDR 8.61 trillion.

"So in this case, Bank Mandiri gets a tax incentive of IDR 1.17 trillion," said Bank Mandiri.

Bank Mandiri's tax policies and their implementation are approved and reviewed by the Director of Finance in reporting the Annual Corporate Income Tax Return. The strategy and implementation of this tax obligation is also reviewed annually by the Director of Finance.

Bank Mandiri also ensures that it always strives to comply with applicable tax provisions.

For information, the issuance of Law (UU) No. 2 of 2020 concerning State Financial Policy and Financial System Stability for Handling the COVID-19 Pandemic is intended to provide protection for people's lives which are very seriously threatened by the spread and spread of COVID-19, both from the aspect of safety of life due to threats to health and safety, as well as social and economic life of the community.

As for all policies in Law Number 2 of 2020, especially policies in the field of state finance that have been implemented at this time, have been based on assessments and using factual data on the impact of the COVID-19 threat to society and the state.