{"id":47808,"date":"2024-11-20T09:00:15","date_gmt":"2024-11-20T02:00:15","guid":{"rendered":"https:\/\/pratamaindomitra.co.id\/webinar\/discusses-pmk-79-2024-tax-for-cooperation-operation"},"modified":"2025-07-28T11:12:33","modified_gmt":"2025-07-28T04:12:33","slug":"discusses-pmk-79-2024-tax-for-cooperation-operation","status":"publish","type":"webinar","link":"https:\/\/pratamaindomitra.co.id\/en\/webinar\/discusses-pmk-79-2024-tax-for-cooperation-operation","title":{"rendered":"Discusses PMK 79 2024 Tax for Cooperation Operation"},"content":{"rendered":"

Tax and Accounting Aspects of Joint Operation (KSO) Businesses<\/strong><\/p>\n

PT Pratama Indomitra Konsultan once again presented its 179th Free Webinar, a comprehensive discussion of Minister of Finance Regulation No. 79 of 2024 (PMK 79\/2024). This regulation covers aspects of Income Tax (PPh) and Value Added Tax (VAT) in Joint Operation (KSO) business activities. The webinar was held on Wednesday, November 20, 2024, with the main speaker being Dr. Prianto Budi Saptono, Ak., CA., M.B.A., an experienced practitioner, academic, researcher, and CEO of PT Pratama Indomitra Konsultan.<\/p>\n

In this session, Dr. Prianto discussed in depth the provisions stipulated in PMK No. 79\/2024 to provide insights from a tax practitioner’s perspective. The webinar was moderated by Ria Sagita Dewi, a tax consultant at PT Pratama Indomitra Konsultan, who ensured the discussion was interactive and informative.<\/p>\n

Dr. Prianto opened the webinar by stating that the issuance of PMK No. 79\/2024 is an omnibus law that combines tax aspects of KUP, VAT, and Income Tax into the tax obligations of Joint Operation Taxpayers. This regulation is designed to increase legal certainty and simplify the implementation of tax rights and obligations in Joint Operation (KSO) activities. This regulation was issued on October 18, 2024.<\/p>\n

The issuance of PMK No. 79\/2024 aims to simplify tax administration, particularly regarding VAT, Luxury Goods Sales Tax (PPnBM), and Income Tax for KSO business activities. Previously, regulations governing KSO tax obligations were not fully comprehensive and were regulated in several separate provisions, making their implementation difficult for KSO taxpayers.<\/p>\n

The issuance of PMK No. 79\/2024 also improves several regulations and confirmation letters regarding KSO tax obligations. This regulation contains implementing regulations that are more comprehensive than the previous provisions stipulated in Government Regulation No. 44 of 2022 and Directorate General of Taxes Regulation No. 04 of 2020 (Per No. 04 of 2020). Specifically regarding Income Tax (PPh), the Director General of Taxes has also issued at least five letters confirming the definition of Joint Operations (KSO) as a Corporate Tax Subject.<\/p>\n

Accounting Regulations and Revenue Recognition in Joint Operations<\/h3>\n

In this webinar, Dr. Prianto Budi Saptono, Ak. CA. MBA, explained that in accounting practice, regulations regarding Joint Operations (KSO) are contained in each Statement of Financial Accounting Standards (PSAK), which are principally based on four main treatments: recognize, measure, present, and disclose. However, when comparing financial accounting in PSAK with tax accounting based on Income Tax provisions, the primary focus lies on two main treatments: recognize and measure. This reflects the different approaches between the two in financial reporting.<\/p>\n

Furthermore, Dr. Prianto explained that financial accounting generally adopts fair value accounting (FVA), which values assets and liabilities based on current market values. In contrast, tax accounting still uses historical cost accounting (HCA), which values based on historical cost or initial acquisition price. The HCA approach in tax accounting is maintained to provide legal certainty, especially in the event of tax disputes and litigation. This difference demonstrates that financial accounting focuses on the relevance of information for decision-makers, while tax accounting places greater emphasis on legal aspects.<\/p>\n

In the context of Joint Operations (KSO), revenue sources generally derive from various contracts reflecting the diversity of business activities. Some types of KSO revenue include:<\/p>\n

Construction Contracts \u2013 Revenue from construction services received by the KSO from the project owner.
\nProperty Contracts \u2013 Revenue from the sale of housing units conducted by the KSO between the landowner and investor to the end buyer.
\nHotel Management Contracts \u2013 Revenue from hotel services recognized by the KSO through direct interactions with hotel guests.
\nRegardless of the contract type, KSO revenue recognition must comply with five stages referred to in the revenue recognition principle. This principle aims to ensure that revenue is recognized only after the performance obligation (PO) in the contract is fulfilled. The stages of revenue recognition are:<\/p>\n

    \n
  1. Identifying the contract with the customer.<\/li>\n
  2. Identifying the performance obligations in the contract.<\/li>\n
  3. Determining the transaction price.<\/li>\n
  4. Allocating the transaction price to the performance obligations.<\/li>\n
  5. Recognizing revenue after the performance obligation is satisfied.<\/li>\n<\/ol>\n

    Based on these stages, the revenue recognition principle stipulates that revenue can be recognized when the customer has obtained control of the goods or services that correspond to the agreed performance obligation. This approach not only ensures accurate accounting but also provides assurance that recognition<\/p>\n","protected":false},"excerpt":{"rendered":"

    Tax and Accounting Aspects of Joint Operation (KSO) Businesses PT Pratama Indomitra Konsultan once again presented its 179th Free Webinar, a comprehensive discussion of Minister of Finance Regulation No. 79 of 2024 (PMK 79\/2024). This regulation covers aspects of Income Tax (PPh) and Value Added Tax (VAT) in Joint Operation (KSO) business activities. The webinar […]<\/p>\n","protected":false},"featured_media":43505,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_links_to":"","_links_to_target":""},"categories":[721],"class_list":["post-47808","webinar","type-webinar","status-publish","format-standard","has-post-thumbnail","hentry","category-webinar-en"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t