Old stamps with a nominal value of Rp3.000 and Rp6.000 replaced with a single stamp duty tariff of Rp10.000. The one single tariff stamp is to be imposed in 2021 with a transition period yet start from January 1. The new policy of one single tariff stamp of Rp10.000 replaced the previous law (UU), Law Number 13 of 1985 concerning Stamp Duty.
As we rounded up from finance.detik.com, Minister of Finance, Sri Mulyani Indrawati said old stamps with a nominal value of Rp3.000 and Rp6.000 aren’t suitable with current conditions where financing and economic have major changes mostly in last three years.
The major purpose of this single tariff stamp duty is increasing state revenues amid COVID-19 pandemic as well as supporting the community and MSMEs (UMKM). As we also rounded up from harianindonesia.co.id, the new stamp duty law takes effect on January 1, 2021 based on the new law, including:
Community and MSMEs (UMKM) documents with a nominal value of more than Rp5 million is only imposed by stamp duty (Rp10.000). it means those below Rp5 million are not subject to stamp duty.
Both paper and digital documents are subject to stamp duty due to developing of digital technology.
Government exempts provisions for the use of stamp duty for handling natural disasters and other religious and/or social activites to support international agreements.
In fulfilling stamp duty payment, there is sanctions both administrative and non-compliance.