MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA

Transcription

1 COPY REGULATION OF THE MINISTER OF FINANCE NUMBER 5/PMK.02/2013 CONCERNING PROCEDURES FOR THE DEPOSIT OF NON TAX GOVERNMENT REVENUE FROM DIVIDENS BY THE GRACE OF GOD ALMIGHTY THE MINISTER OF FINANCE, Considering : a. whereas in order to enhance the regulation of deposit of Non Tax Government Revenues to be more clear, efficient, transparent, accountable, and comprehensive, it is necessary to regulate the depositing of Non Tax State Revenues from Dividends previously set in Regulation of the Minister of Finance Number 34/PMK.02/2010; b. whereas based on the considerations as referred to in paragraph a, it is necessary to stipulate Regulation of the Minister of Finance concerning Procedures for the Payment of Tax Revenues from Dividends In View of : 1. Law No. 20 Year 1997 concerning State Revenue (State Gazette of the Republic of Indonesia Year 1997 Number 43, Supplement to the State Gazette of the Republic of Indonesia Number 3687) 2. Law No. 17 Year 2003 concerning State Finance (State Gazette of the Republic of Indonesia Year 2003 Number 47, Supplement to the State Gazette of the Republic of Indonesia Number 4286); 3. Law Number 19 Year 2003 concerning State-Owned Enterprises (State Gazette of the Republic of Indonesia Year 2003 Number 70, Supplement to the State Gazette of the Republic of Indonesia Number 4297); 4. Law No. 1 of 2004 concerning State Treasury (State Gazette of the Republic of Indonesia Year 2004 No. 5, Supplement to the Republic of Indonesia Number 4355);; 5. Law Number 40 of 2007 concerning Limited Liability Company (State Gazette of the Republic of Indonesia Year 2007 Number 106, Supplement to the State Gazette of the Republic of Indonesia Number 4756); 6. Government Regulation Number 22 of 1997 concerning Types and Deposit of State Revenue (State Gazette of the Republic of Indonesia Year 1997 Number 57, Supplement to the State Gazette of the Republic of Indonesia Number 5075); 7. Government Regulation No. 41 Year 2003 concerning Delegation Position, Duties and Authority of the Minister of Finance Concerning Limited Liability Company (Persero), the Minister of State Owned Enterprises (State Gazette of the Republic of Indonesia of 2003 No. 82, Supplement to the State Gazette of the Republic of Indonesia Number 4305); 8. Government Regulation No. 44 Year 2003 regarding Tariff of State Revenue Prevailing in the Ministry of Finance (State Gazette of the Republic of Indonesia Year 2003 Number 95, Supplement to the

2 - 2 - State Gazette of the Republic of Indonesia Number 4313); 9. Government Regulation No. 44 Year 2005 concerning Procedures and Administration of State Capital Investments In State-Owned Enterprises and Limited Liability Company (State Gazette of the Republic of Indonesia Year 2005 Number 116, Supplement to the State Gazette of the Republic of Indonesia Number 4555); 10. Government Regulation No. 45 Year 2005 concerning Establishment, Management, Supervision and Dissolution of State Owned Enterprises (State Gazette of the Republic of Indonesia Year 2005 Number 117, Supplement to the State Gazette of the Republic of Indonesia Number 4556); 11. Government Regulation No. 29 Year 2009 concerning Procedures for Determining Amount, Payment, and Remittance of Non Tax State Revenue (State Gazette of the Republic of Indonesia Year 2009 Number 58, Supplement to the State Gazette of the Republic of Indonesia Number 4995); 12. Minister of Finance Regulation No. 99/PMK.06/2006 concerning State Revenue Module; 13. Regulation of the Minister of Finance No. 190/PMK.02/2011 concerning Government Investment Accounting System; BE IT HEREBY RESOLVED: To Stipulate : REGULATION OF THE MINISTER OF FINANCE CONCERNING PROCEDURES FOR DEPOSIT OF NON TAX GOVERNMENT REVENUE FROM DIVIDENDS. Referred to herein as: Article 1 1. State-Owned Enterprises, hereinafter referred to as SOE, shall be a business entity that all or most of the capital owned by the state through direct investment from separated state assets. 2. Limited Company, hereinafter referred to as Limited Company, shall be a state in the form of a limited liability company where its capital is divided into shares that all or at least 51 % (fifty one percent) of which are owned by the Republic of Indonesia whose main objective is for the pursuit of profit. 3. Other Limited Liability Company shall be a limited liability company owned by the Republic of Indonesia less than 51 %. 4. Public companies, hereinafter referred to as Public Company, shall be a SOE wholly owned by the state and not divided into shares, which aims for the public benefit in the form of supply of goods and / or services of high quality and at the same time pursuing profits based on the principles of corporate management. 5. Dividend shall be part of Government revenue at State Owned Enterprises, Limited Company and Others.

3 Payer shall be a form of business entity in the forms of Limited Company, Public Company and other Limited Company. 7. Closed company Payer hereinafter referred to as Non-Listed Company Payer shall be a state-owned enterprise and other limited liability company wholly or partly owned by the government, where the shares shall not be listed and not traded in the Capital Market. 8. Listed Company Payer hereinafter referred to as Listed Company Payer shall be a state-owned enterprise and other limited liability company partly owned by the government, where the shares shall be listed and traded in the Capital Market. 9. General Meeting of Shareholders, hereinafter abbreviated to as AGM, shall be a Company organ which has the authority not granted to the Board of Directors or Board of Commissioners and the highest authority in a company. 10. State Investment hereinafter referred to as PMN shall be the allocation of the property of the State from the State Budget or determination of reserves for the company or other sources to be used as SOE capital and / or Other Limited Liability Company, and managed as a corporation. 11. Perception Bank shall be a bank designated by the Minister of Finance to accept deposits of Non Tax State Revenues. 12. Perception Post shall be a post office designated by the Minister of Finance to accept deposits Non Tax State Revenues. 13. State Revenue Module hereinafter referred to as MPN shall be a revenue module containing a set of procedures ranging from receiving, depositing, data collection, recording, reporting relating to the acceptance of the State and shall be part of the Revenue System and State Budget. Article 2 (1) The Payer shall pay all Pay Dividends payable in cash no later than the due date. (2) The maturity payment of Dividends as referred to in paragraph (1) for Non Listed Payer shall be 1 (one) month after the date of the determination of Dividend is by: a. AGM for Limited Company and Other Liability Companies, and b. Minister for State Owned Enterprises for Public Companies. (3) The maturing date for Dividend payments as referred to in paragraph (1) for Listed Payer shall follow the regulations of the Capital Market. (4) In case the due date of payment/ deposit of dividends payable coincides with holidays including Saturdays or days determined as holidays by the government, the payment / deposit of dividends payable shall be performed on the previous working day.

4 - 4 - Article 3 (1) The Payer shall make the deposit of all liabilities of Dividends and/ or penalties related to the payment of dividends to the State Treasury through Perception Bank/ Post. (2) In making the deposit as referred to in paragraph (1) the Payer shall submit complete and accurate data on the form of Non-Tax Deposit (SSBP) or electronic deposit form letter for the payment of Non Tax Government Revenue. (3) The Payer shall be responsible for the completeness and correctness of the data included in the form letter deposit referred to in paragraph (2). (4) The Payment of Dividend deposit liabilities and/ or penalties related to the payment of dividends referred to in paragraph (1) as the date of the deposit liability payment. (5) The procedure for deposit as referred to in paragraph (1) and paragraph (2) shall be conducted in accordance with the provisions governing State Revenue Module. Article 4 (1) In the event that Payers cannot pay all dividend obligations at maturity as referred to in Article 2 paragraph (2) and paragraph (3), the Payer shall file application for maturity determination. (2) The application for the determination of payment due date as referred to in paragraph (1) shall be submitted to the Minister of Finance cq the Director General of Budget. (3) The Director General of Budget on behalf of the Minister of Finance shall determine the payment due date on the application referred to in paragraph (1). Article 5 (1) The Application for the determination of payment due date as referred to in Article 4 paragraph (1) shall be submitted by the Payer experiencing cash flow difficulties. (2) The cash flow difficulties as referred to in paragraph (1) shall be the inability of the company's cash to meet the current liabilities of the current year. (3) The inability of the company's cash as referred to in paragraph (2) shall be caused by the impact of inflation, regulation, and government assignments. Article 6 The determination of payment due date as referred to in Article 4 paragraph (3) shall be regulated by the following provisions:

5 - 5 - a. Dividend payment at least 25%, at maturity as referred to in Article 2 paragraph (2) and paragraph (3); b. Residual Dividend liabilities can be paid equally each month no later than November of Fiscal Year runs, and c. The remaining residual dividend payment obligations as referred to in point b can be determined otherwise by the Minister of Finance based on the cash flow projections of the Payer. Article 7 (1) The application as referred to in Article 4 paragraph (1) shall be received by the Minister of Finance c.q. the Director -General of Budget, no later than 15 (fifteen) days after the AGM or determination of Dividend by the Minister of SOE, with supporting data. (2) The supporting data referred to in paragraph (1) shall at least include the following documents: a. Minutes of AGM and / or e Minutes of the General Meeting of Shareholders for the Limited Company and Other Limited Liability Company, and Dividend Determination Letter by the Minister of State Owned Enterprises for Public Companies; b. The company's financial statements that have been audited; c. Realization and cash flow projections for the year and an explanation of the cause of cash issues; d. Work Plan and Budget of the current year, and e. Absolute Responsibility Statement concerning Accuracy of the supporting data from the Board of Directors as the format specified in Attachment I which shall be integral part of this Ministerial Regulation. Article 8 (1) In case the application of the Payer comes after the time limit as referred to in Article 7 paragraph (1) and / or do es not attach the supporting data referred to in Article 7 (2), the application will be denied payers and dividend payment due shall be as intended in Article 2 paragraph (1) (2) If the application complies Article 7 (1) and paragraph (2), the Ministry of Finance cq Directorate General of Budget shall do document verification. (3) In case based on the results of examination of documents as referred to in paragraph (2) the application is approved, the Director General of Budget on behalf of the Minister of Finance shall issue Letter of Determination of Payment Due Date. (4) Rejection Letter or Letter of Determination of Payment Due Date as referred to in paragraph (1) and paragraph (3) shall be issued no later than 10 (ten) days from the date of receipt of application.

6 - 6 - Article 9 (1) In the event of delays and / or lack of Dividend payments as referred to in Article 2 and Article 6, the Payer shall be imposed with administrative sanctions in the forms of fines of 2% (two percent) per month of the amount of the dividends delayed and / or insufficiently paid and part of the month shall be calculated 1 (one) full month. (2) The administrative sanction in the form of fine as referred to in paragraph (1) shall be for a maximum of 24 (twenty four) months. (3) The Payer shall deposit the entire deficient payment and / or late fine as referred to in paragraph (1) to the State Treasury. (4) The calculation of fines for late and / or insufficient Dividend payments as referred to in paragraph (1), shall be listed in Attachment II, which shall be an integral part of this Ministerial Regulation Article 10 (1) For any delay and / or lack of Dividend payments as referred to in Article 9, the Director General of Budget shall make collections from the Payer by issuing the First Invoice. (2) If within a period of 1 (one) month from the date of the First Invoice as referred to in paragraph (1) has been issued, the Payer has not met or does not meet the obligations, the Director General of Budget shall issue the Second Invoice. (3) If within a period of 1 (one) month from the date of the Second Invoice as referred to in paragraph (2) has been issued, the Payer has not met or does not meet the obligations, the Director General of Budget shall issued the Third Invoice. (4) If within a period of 1 (one) month from the date of the Third Invoice as referred to in paragraph (3) shall be issued, the Payer has not met or does not meet the obligations, the Director General of Budget shall issue a Collection Delegation to the competent authorities for the care of the State Receivables to be processed further. Article 11 (1) In the event of excess deposit or payment of dividends, the Payer can apply for refund of overpayment to the Minister of Finance cq the Director General of Budget. (2) The Director General of Budget on behalf of the Minister of Finance will approve or disapprove the request of the Payer as referred to in paragraph (1). (3) In case the refunding application as referred to in paragraph (1) is approved, the excess payment shall be treated as an advance payment in the amount of dividends payable for the subsequent periods. (4) In the event of termination of business activities and there shall be excess deposit or payment of dividends, the overpayment may be

7 - 7 - refunded in cash in accordance with the laws. Article 12 In terms the Payer is set to pay the Interim Dividend in the current budget year, it shall be carried out no later than December 27 of the fiscal year. Article 13 (1) The Stipulation of due date of payment of Dividends as referred to in Article 4 paragraph (3) may be revisited; (2) The revisiting of the Due date of Dividend payment as referred to in paragraph (1) shall be based on: a. Payer proposal, and b. Determination of the Director General of Budget on behalf of the Minister of Finance after coordinating with the Payer, in terms of meeting state finance. Article 14 In the event that the Dividends payable is converted into Additional State Investment, it will be conducted after obtaining approval of the Minister of Finance and the administration will be in accordance with the legislations. Article 15 (1) In the framework of the monitoring and evaluation of Dividend receipt, the Payer shall submit the following documents: a. Proof of payment of dividend and or penalties related to Dividend payments; b. Minutes of AGM and / or minutes of the AGM, and c. The company's financial statements that have been audited; to the Minister of Finance c.q. the Director General of Budget. (2) Evidence deposit proof or penalties related to Dividends and Dividend payments as referred to in paragraph (1) shall be submitted no later than 7 (seven) days after the date of deposit. (3) the minutes or minutes of AGM and audited financial statements as referred to in paragraph (1) letter b and c shall be submitted no later than 1 (one) month after the issuance. (4) If the Payer fails to submit the documents as referred to in paragraph (1), for orderly administration, the Director General of Budget on behalf of the Minister of Finance shall deliver a letter of reprimand to the Payer.

8 - 8 - Article 16 At the time this regulation comes into force, the provisions on the procedure for depositing Non Tax State Revenues from Dividends as stipulated in Regulation of the Minister of Finance No. 34/PMK.02/2010 concerning Procedures for Payment of Non Tax State Revenues and Surplus of Dividends of Bank Indonesia shall be revoked and declared invalid. Article 17 This Ministerial Regulation shall come into force as of its stipulation date For public cognizance, it shall be ordered to promulgate this Ministerial Regulation by announcing it in the Official Gazette of the Republic of Indonesia. Stipulated in Jakarta on January 2, 2013 THE MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA, Signed. AGUS D.W. MARTOWARDOJO Enacted in Jakarta on January 2, 2013 THE MINISTER OF JUSTICE AND HUMAN RIGHTS OF THE REPUBLIC OF INDONESIA, Signed. AMIR SYAMSUDIN OFFICIAL GAZETTE YEAR 2013 NUMBER 8

9 - 1 - APPENDIX I REGULATION OF THE MINISTER OF FINANCE NUMBER 5/PMK.02/2013 ON CONCERNING PROCEDURES FOR THE DEPOSIT OF NON TAX STATE REVENUE FROM DIVIDENS STATEMENT OF ABSOLUTE RESPONSIBILITY ON THE ACCURACY OF SUPPORTING DATA To Director General of Budget in Jakarta The undersigned below: Name : Title : Address : In connection with our request letter No.:... dated..., with the subject Stipulation Dividend Payment Due Date of PT... Year 20..., hereby certifies that the supporting data we convey, namely: 1. Minutes of AGM and / or minutes of AGM for Limited Company and Other Limited Liability Company, and Dividend Determination Letter by the Minister of State Owned Enterprises for Public Company; 2. Audited financial statements; 3. Realization and cash flow projections for the current year, and 4. Work Plan and Budget of the current year, are correct. If later it is found out that the data conveyed is not in accordance with the actual situation, we are willing that our due assessments that have been issued by the Director General of the Budget be revisited, and are willing to pay all obligations along with the accrued dividend of 2% (two percent) per month, calculated from the due date that is not later than 1 (one) month after the AGM. This statement is made to be used as necessary...., Dated... Declarant Board of Directors, Stamp duty Rp6000, - (Full Name) MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA, Signed AGUS D.W. MARTOWARDOJO

10 - 2 - APPENDIX II REGULATION OF THE MINISTER OF FINANCE NUMBER 5/PMK.02/2013 ON CONCERNING PROCEDURES FOR THE DEPOSIT OF NON TAX STATE REVENUE FROM DIVIDENS EXAMPLE OF CALCULATION OF ADMINISTRATIVE SANCTIONS The Maturity date is July 7, the total dividend payment due to be paid is Rp400,000,000,000, - (four hundred billion rupiah) proposes the following schedule: 1. The first payment is July 7 at 25% (twenty five percent) of the obligations of dividend amounting Rp 100,000,000,000, - (one hundred billion rupiah). 2. The remaining time of dividend payment is 4 months until November, as follows: a. The second payment on August 7, at Rp75,000,000,000 (seventy five billion rupiah); b. The third payment on September 7, at Rp75,000,000,000, - (seventy five billion rupiah); c. The fourth payment on October 7, at Rp75,000,000,000, - (seventy five billion rupiah), and d. The fifth payments on November 7, at Rp75,000,000,000, - (seventy five billion rupiah). 3. Sanctions for late payment of dividends: For example: The third payment is made on October 9, there is delay in payment for 2 days. For the delay shall be imposed administrative sanctions in the forms of fines of 2% (two percent) so that the dividend payment liability will be: = Rp75,000,000,000, - + (Rp75,000,000,000, - x 2%) = Rp76,500,000,000, 4. Sanctions for deficiency in dividend payment obligations: Example: The third payment is made on October 7 at Rp50,000,000,000, - (fifty billion rupiah) then there is a lack of payment for Rp25,000,000,000, - (twenty five billion rupiah). If the payment shortfall of Rp25,000,000,000, - (twenty five billion rupiah) is made after October 7, ie between the October 8 to November6, the delay is calculated 1 (one) month and the underpayment will be subject of penalty of 2% (two percent), so the amount to be paid is = Rp25,000,000,000, - + (Rp25,000,000,000, - x 2%) = Rp25,500,000,000, - MINISTER OF FINANCE OF THE REPUBLIC OF INDONESIA, Signed AGUS D.W. MARTOWARDOJO