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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.