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IFRS Effects on Tax Expenditure E-mail
Monday, 07 May 2012

ImageNowadays, it is easily to find many companies that arrange improper bookkeeping. But, they still have any chance to apply for credit. As a result, in less than two years, credit run to standstill. For this reason, financial reporting regulation becomes very important part. Also, financial reporting effects tax expenditures of the company.

This statement was revealed by Head of General Rules and Taxation Procedure Division (KUP) Directorate General of Taxation Indonesia, M. Tunjung Nugroho, SE., Ak., ME., when delivers his presentation at seminars and discussions on the convergence International Financial Reporting Standards (IFRS), "Strategy and Impact of IFRS Implementation toward taxation system in Indonesia", on Saturday (5/5), at the Faculty of Economics UII , Condong Catur.

According Tunjung Nugroho, tax regulation has been compiled in Tax Law. Based on the constitution, government may only withhold taxes which have been specified in regulation. He added that tax regulation has been stated in formal and material tax law. He said further that bookkeeping included in procedural law since tax law also regulates bookkeeping practices.

Meanwhile, UII Vice Rector III, Ir. Bachnas, M.Sc., stated that go-public company which use IFRS have to obey three basic components including regulation, company infrastructure, and human resources of its company. He added that recently tax transaction is rapidly rising. "Today’s fact shows that entrepreneurs in Indonesia sometime break the rule such as tax cheating," he explained.

The event featured several speakers KUP including Secretary of General Rules and Taxation Procedure Division (KUP) Directorate General of Taxation Indonesia, Tarko Sunaryo, CPA, and Budi Prianto Saptono, Ak., BKP, from Indonesian Tax Consultants Association.

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