Increased, Here are the Interest Rates of Tax Administrative Sanction in June 2024

JAKARTA. Interest rates on tax administrative sanctions and interest rewards for the 1 June - 30 June 2024 period have been determined through Minister of Finance Decree (KMK) Number 9/KM.10/2024.

When compared to the interest rate applicable in the previous month period, namely 1 May - 31 May 2024, the average interest rate has increased.

The interest rate per month for administrative sanctions in Article 19 paragraph (1), Article 19 paragraph (2), and Article 19 paragraph (3) is set at 0.59%, higher than the previous month's rate of 0.57%.

While the interest rate per month for administrative sanctions Article 8 paragraph (2), Article 8 paragraph (2a), Article 9 paragraph (2a), Article 9 paragraph (2b), and Article 14 paragraph (3) is set at 1.00%, up from the May period of 0.99%.

Then the interest rate per month for administrative sanctions for the provisions of Article 8 paragraph (5) is set at 1.42% and for Article 13 paragraph (2) and Article 13 paragraph (2a) is set at 1.84%.

Finally, the interest rate per month for administrative sanctions for the provisions of Article 13 paragraph (3b) is set at 2.25%.

The government also set the interest rate per month on interest rewards based on the provisions of Article 11 paragraph (3), Article 17B paragraph (3), Article 17B paragraph (4) and Article 27B paragraph (4) at 0.59%, higher than the interest reward rate in May which was only 0.57%.

The determination of amount of this interest rate is determined by the Head of the Fiscal Policy Agency (BKF) of the Ministry of Finance on behalf of the Minister of Finance.

In its determination, the Head of BKF always refers to the latest economic conditions, including the development of the prevailing benchmark interest rate. (ASP/KEN)