Bookkeeping in Foreign Languages and Foreign Currency and the Provision of Annual Income Tax Notifications - Implementation Procedures

The basic premise of the Minister of Finance Regulation is to ensure legal certainty and to facilitate compliance by businesses and corporations that are bookkeeping in foreign languages and utilizing currencies other than the Rupiah in their financial transactions. Bookkeeping in foreign languages and currency is permissible under Article 28(8) ofLaw No. 6 of 1983as amended byLaw No. 16 of 2000. However, with a view to ensuring a high degree of compliance and legal certainty there remained a need to clarify the obligation to also provide the required income tax notification letters, which this Regulation,No. 49/PMK.03/2007, is intended to do.