10%. Capital gains tax: Resident nationals and foreigners. 10%. Non-resident foreigners. 10%. Rental income. 10% on gross. Note: No tax is payable if total income under salaries does not exceed MMK 4.8 million a year. 2023 tax rates by state. These state income tax rates apply to income earned in 2023, which is reported on tax returns filed in 2024. State. Tax rates. # of brackets. Lowest and highest tax On 4 February 2020, an updated tax treaty was signed between Singapore and Indonesia (referred herein as the “updated tax treaty”). Among other changes, the updated tax treaty introduces the following: • Reduction in royalty withholding tax rate from 15% to 10%/8% • Reduction in branch profits tax rate from 15% to 10% For example, if with an NPWP you would have faced a tax rate of 15.0%, without an NPWP you would face a tax rate of 18%. PPh 26 Income Taxes. If you are only staying temporarily in Indonesia and you receive an income in Indonesia, you are also subject to Indonesian income tax (PPh) 26. For example, a musical artist from the UK who performs in 1.1. Special tax Rate for Individual and HUFs . New tax regime (also known as alternative tax regime) is optional for the Assessment Year 2023-24. An individual or HUF has to exercise the option under Section 115BAC(5) to avail its benefit. However, for the Assessment Year 2024-25, the new tax regime is the default tax regime for the Individual Personal income tax rate is to be determined by the Finance Act every fiscal year. Following is the existing rates of personal income tax: First BDT 300,000 = Nil Next BDT 100,000 = 5% Next BDT 300,000 = 10% Next BDT 400,000 = 15% Next BDT 500,000 = 20% On balance = 25% Individuals can be entitled to investment tax rebates if they make eligible Rate. Personal Income Tax. 3.07 percent. Inheritance and Estate Tax. 0 percent on transfers to a surviving spouse or to a parent from a child aged 21 or younger. 4.5 percent on transfers to direct descendants and lineal heirs. 12 percent on transfers to siblings. 15 percent on transfers to other heirs, except charitable organizations, exempt exchange rate applicable on the last day of FY2015 as determined by the MoF. VDP II VDP II is designated for individual taxpayers with net assets acquired between 1 January 2016 and 31 December 2020 that have not yet been reported in the 2020 annual income tax return (ITR). The final tax rates applicable under VDP II are: Next, effective January 1, 2022, SB 1828 consolidates the state’s four general marginal individual income tax rates into two by eliminating the 4.5 percent and 4.17 percent general rates and reducing the two lower rates from 3.34 to 2.98 percent and from 2.59 to 2.55 percent, benefiting all individual income taxpayers. Generally, most individuals pay their income tax via monthly withheld by employers. Indonesian personal income tax is calculated as follows: Taxable Income (Indonesian Rupiah) Tax Rate. Up to IDR 50 million per year. 5%. Between IDR 50 million and IDR 250 million. 15%. Between IDR 250 million and IDR 500 million. bJPI47.