The information contained in this document is marketing material and for informational purposes only. The information contained in this document is presented without any warranty or representation as to its accuracy or completeness and all implied representations or warranties of any kind are hereby disclaimed. Recipients of this document, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this document without seeking appropriate professional advice. The provision of the information contained in this document does not establish any express or implied duty or obligation between Citco and any recipient and neither Citco nor any of its shareholders, members, directors, principals or personnel shall be responsible or liable for results arising from the use or reliance of the information contained in this document including, without limitation, any loss (whether direct, indirect, in contract, tort or otherwise) arising from any decision made or action taken by any party in reliance upon the information contained in this document. © The Citco Group Limited, December 2024.
Indonesia introduces Electronic Stamp Duty (“e-stamp”)
In response to an increase in electronic transactions, the Government of Indonesia has officially launched and enforced the usage of e-stamp with the issuance of Minister Regulation No. 134/PMK.03/2021 on Payments of Stamp Duty, General Characteristics and Special Characteristics of Stamps, Unique Codes and Certain Information on Electronic Stamps, Stamps in Other Forms, Determinations of the Validity of Stamps and Paid Post-Dated Stamps (“Regulation 134/2021”), as the implementing regulation of Stamp Duty Law. The e-stamp can be purchased from the e-stamp System, state-owned banks and private banks and/or PT Telkom Indonesia (Persero) Tbk as the distributor. An e-stamp must be affixed through the e-stamp System and it contains a unique code in the form of a 22-digit serial number and certain information, notably:
- an image of Garuda Pancasila;
- the written phrase (tulisan) “Meterai Elektronik”; and
- numbers and words which indicate the nominal value of the rate.
In terms of Regulation 134/2021, the absence of any of the above mentioned e-stamp constituent parts will deem the relevant stamp duty invalid even if paid, and the documents affixed with the flawed e-stamp will be treated as not stamped.
