written by Gerry Octaviano, S.Sos, MBA
GR 93 & MoF 76 do not govern properly regarding the donation for medical equipments. It simply regulates the donation for social infrastructure but does'nt explain properly whether it is only for build a place such as hospital or the medhical equipments included as well in this defintion. Since the spirit of the regulation is the donation for the society therefore medhical equipments should be included and can be deductible expenses.
Tax Payer's purpose is to help society and assists Indonesia for the health. Ministry of Health should collaborate with Ministry of Finance to design the tax incentive for this issue.
Allah Wa' Alam.
Thursday, September 6, 2012
Friday, August 31, 2012
VAT on cross border transaction
written by Gerry octaviano
Indonesia adopted both origin and destination principle, it can be seen from the SE-145 which revoked SE-08 concerning VAT on trading services. This regulation explains clearly vat imposed where the service is performed (origin principles) and where the service is received.
The question is if the customer from Indonesia (Mr.A) and service provider from US (mr.b).
Mr.A goes to US to consult regarding his financial corporation.
1. Should Indonesia has the right to impose the VAT?
...............
How about e-commerce transaction i.e agoda, etc...?????.....
Allah Wa'Allam
Indonesia adopted both origin and destination principle, it can be seen from the SE-145 which revoked SE-08 concerning VAT on trading services. This regulation explains clearly vat imposed where the service is performed (origin principles) and where the service is received.
The question is if the customer from Indonesia (Mr.A) and service provider from US (mr.b).
Mr.A goes to US to consult regarding his financial corporation.
1. Should Indonesia has the right to impose the VAT?
...............
How about e-commerce transaction i.e agoda, etc...?????.....
Allah Wa'Allam
Wednesday, August 29, 2012
How to deal with taxation for Islamic Finance Products
Written by Gerry Octaviano
In order to design tax regulation for Islamic Finance products required the people who are expert in both (tax and Islamic Finance). It will not work if only expert in tax or only Islamic Finance.
Those people should know the purpose of Islamic Finance which to boost the real economy and downsized the financial economy.
I am so disappointed once I knew mostly (more or less 80%) Islamic Financial Institutions earned income from murabahah (which similar to conventional but fixed rate - more towards for consumption) instead of parnership (mudharabah or musharaqah).
The prevailing tax regulations shows that Islamic Financial Institution in substance similar to the conventional products. Indonesian Tax Authority ("ITO") does not impose any tax on the Islamic Finance scheme with the reason it is simply to fulfill Sha'riah principle.
Those people who expert in both (tax & shari'ah) should be hired by Government to design the proper tax regulation and Islamic Banking with Bank Indonesia in order the purpose of the Shariah can be fulfilled.
Allah Wa'Alam.
In order to design tax regulation for Islamic Finance products required the people who are expert in both (tax and Islamic Finance). It will not work if only expert in tax or only Islamic Finance.
Those people should know the purpose of Islamic Finance which to boost the real economy and downsized the financial economy.
I am so disappointed once I knew mostly (more or less 80%) Islamic Financial Institutions earned income from murabahah (which similar to conventional but fixed rate - more towards for consumption) instead of parnership (mudharabah or musharaqah).
The prevailing tax regulations shows that Islamic Financial Institution in substance similar to the conventional products. Indonesian Tax Authority ("ITO") does not impose any tax on the Islamic Finance scheme with the reason it is simply to fulfill Sha'riah principle.
Those people who expert in both (tax & shari'ah) should be hired by Government to design the proper tax regulation and Islamic Banking with Bank Indonesia in order the purpose of the Shariah can be fulfilled.
Allah Wa'Alam.
Saturday, August 25, 2012
Does the tax Treatment show the impurity of islamic finance?
Written by Gerry Octaviano, MBA
According to prevailing tax regulation VAT does not impose on islamic finance scheme if it is simply to fulfill the shariah principle.
The VAT only impose on the delivery of taxable goods from the party who owns the taxable goods (the real seller) to the party who really needs the taxable goods (the real buyer).
From the above explanation, we can raise the following questions:
1. Does it mean the existing islamic finance only unreal translations where actually the goods and/service, parties do not exist?
And.....
2. Who are the parties that can fix the situations?
.................. It could be you.......
Allah Wa'Allam
According to prevailing tax regulation VAT does not impose on islamic finance scheme if it is simply to fulfill the shariah principle.
The VAT only impose on the delivery of taxable goods from the party who owns the taxable goods (the real seller) to the party who really needs the taxable goods (the real buyer).
From the above explanation, we can raise the following questions:
1. Does it mean the existing islamic finance only unreal translations where actually the goods and/service, parties do not exist?
And.....
2. Who are the parties that can fix the situations?
.................. It could be you.......
Allah Wa'Allam
Sunday, July 31, 2011
We should influence an unhealthy environment...
By Gerry Octaviano , S.Soc, MBA.
I just wanna give brief story about an entrepreneur (Mr.A) ask to his Ustadz or Moslem Scholar abous his business.
Mr. A has a small hotel in Jogja and he said the environment is really unislamic, he is afraid his hotel will facilitate for people doing Zinah.
Afterwards, He asked an Ustadz whether he has to sell the hotel and find the other business.
Ustadz says it is better you influence this unhealthy environment to become better not the other away around.
Usatadz said, if you (Mr.A) move and this environment will be worst than ever.
It is better if you buy more hotel and create healthy environment which in line with Shariah Principle.
The point is we should influence an environment not environment influence as long we are still in line with Shariah Principle.
Hopefully, can add value for your life. Just wanna inform that in learning MBA Islamic Banking and Finance we learnt that Shariah not only talking about Economic but all aspects eg. medications, technology, philosophy... You can see many Non-Moslem Countries implement Shariah Principle in some cases.
I just wanna give brief story about an entrepreneur (Mr.A) ask to his Ustadz or Moslem Scholar abous his business.
Mr. A has a small hotel in Jogja and he said the environment is really unislamic, he is afraid his hotel will facilitate for people doing Zinah.
Afterwards, He asked an Ustadz whether he has to sell the hotel and find the other business.
Ustadz says it is better you influence this unhealthy environment to become better not the other away around.
Usatadz said, if you (Mr.A) move and this environment will be worst than ever.
It is better if you buy more hotel and create healthy environment which in line with Shariah Principle.
The point is we should influence an environment not environment influence as long we are still in line with Shariah Principle.
Hopefully, can add value for your life. Just wanna inform that in learning MBA Islamic Banking and Finance we learnt that Shariah not only talking about Economic but all aspects eg. medications, technology, philosophy... You can see many Non-Moslem Countries implement Shariah Principle in some cases.
Tuesday, March 29, 2011
Deceive and deceive....
Deceive and deceive,,
Written by Gerry Octaviano
Never say yes before you do research as much as you can. People who are vulnerable to be cheated, as follow:
- Lack of information
- Judge from the cover (appearance or look such as handsome or beautiful)
- Family or even close friend is not guarantee they are always honest
- Not close to Allah (swt)
- close minded
Hopefully, in any decision you should smart in collecting information prior to decide it. Open your mind and just trust Allah (swt) by reading Quran and Sunnah.
Allah Wa'Allam
We should focus on our own problem not others'!
We should focus on our own problem not others'!
Moslem countries' are no longer focus on their problem but others', I didn't notice this thing before my professor told this thing in the class. You should do a little bit research about how much money that we have spent for AIDS? Do you think this is our problem if our life still in line with Qur'an and sunnah.
While in our own problem which is malaria is only few dollars we spent for doing research about it and we have to aware that how many people in moslem countries cos of this thing? The problem is tropic country not only cos of we can't keep clean which is suggested by Quran and Sunnah.
Do some research about it and fix our mindset.
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