REKONSILIASI FISKAL | ADMINISTRASI PAJAK | RAFENA OKTASARY

Summary

In this lesson on fiscal reconciliation, the instructor explains the differences between commercial and fiscal financial statements in Indonesia and the need for reconciliation. The session covers key concepts like fiscal reconciliation techniques, reasons for discrepancies (permanent and temporary differences), and types of fiscal corrections. Students are introduced to positive and negative corrections and their impact on taxable income. Practical examples, such as tax-exempt income and depreciation, are discussed. The session concludes with a task for students to explore and apply these concepts, ensuring a solid understanding of the material for future assessments.

Takeaways

• 😀 Fiscal reconciliation is the process of matching commercial financial statements with fiscal financial statements to determine tax obligations.
• 😀 Businesses operating in Indonesia, including foreign companies, must pay taxes and report their financial statements according to both accounting standards and tax regulations.
• 😀 Commercial financial statements are based on accounting standards, while fiscal financial statements are prepared according to tax regulations.
• 😀 Fiscal reconciliation is necessary due to differences between accounting profits and taxable profits, which occur at the end of the accounting period.
• 😀 Permanent differences in fiscal reconciliation involve income and expenses that do not require future adjustments, such as final tax income and non-taxable income.
• 😀 Temporary differences in fiscal reconciliation involve timing differences in income and expense recognition, affecting tax calculations over multiple periods.
• 😀 Depreciation, inventory valuation, fiscal loss compensation, and exchange rate gains or losses are common examples of temporary differences.
• 😀 Positive fiscal corrections increase income or decrease expenses, such as expenses not recognized by tax law or higher commercial depreciation than fiscal depreciation.
• 😀 Negative fiscal corrections decrease income or increase expenses, like non-taxable income or income subject to final tax.
• 😀 The two types of fiscal corrections—positive and negative—are used to adjust the differences between commercial and fiscal financial statements.
• 😀 Students are encouraged to complete homework, which involves understanding fiscal reconciliation, permanent and temporary differences, and fiscal adjustments.

Q & A

What is the main purpose of fiscal reconciliation?

The main purpose of fiscal reconciliation is to match the financial statements prepared under accounting standards with those required by tax law, in order to determine the correct amount of tax payable.

Why do companies in Indonesia need to perform fiscal reconciliation?

Companies in Indonesia, including foreign companies, must perform fiscal reconciliation because there are differences between the accounting standards and tax regulations. This reconciliation ensures accurate tax reporting and payment.

What are the two types of financial reports mentioned in the script?

The two types of financial reports are: (1) Commercial financial reports, which are prepared according to accounting standards, and (2) Fiscal financial reports, which are prepared according to tax regulations for tax calculation purposes.

What does fiscal reconciliation involve?

Fiscal reconciliation involves a process of matching commercial financial reports with fiscal financial reports and making adjustments to account for differences, either through positive or negative corrections.

When should fiscal reconciliation be performed?

Fiscal reconciliation should be performed at the end of the accounting period, especially when there are discrepancies between the accounting profit and taxable profit.

What are permanent differences in fiscal reconciliation?

Permanent differences refer to discrepancies between accounting and tax recognition of income and expenses that do not require further adjustments in the future. These are usually due to income or expenses that are treated differently under tax law, such as certain types of income (e.g., final PPH) or non-deductible expenses.

Can you provide an example of a permanent difference?

An example of a permanent difference is income subject to final tax under article 4(2) of the Income Tax Law, which is not included in taxable income for fiscal reporting.

What is the meaning of temporary differences in fiscal reconciliation?

Temporary differences occur when there are timing differences in recognizing income or expenses between accounting and tax reports. These differences shift income or expenses across accounting periods, leading to different taxable income calculations.

What is a positive correction in fiscal reconciliation?

A positive correction is an adjustment that increases taxable income or reduces deductions. For example, if expenses not recognized by tax law are included in the commercial books or if the commercial depreciation exceeds fiscal depreciation.

What is a negative correction in fiscal reconciliation?

A negative correction is an adjustment that decreases taxable income or increases deductions. For example, non-taxable income or income subject to final tax is excluded from taxable income, or fiscal depreciation exceeds commercial depreciation.