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"The currency or foreign exchange (FX) market is the largest financial market in the world, with trading volumes surpassing $1,9 trillion a day. Although primarily dominated by a worldwide network of interbank traders, a new era of internet-base communication technologies has recently allowed individual investors to gain direct access to this popular and profitable market. Trading in the foreign exchange market is an alternative tool for investment other than investing in stock market.The tax issues on gain from foreign exchange trading tend to be disorienting since there are no tax circular that regulates the implementation of foreign exchange trading in Indonesia. Since the absence of specific income tax law on gain from forex trading, this research attempts to explain the nature of foreign exchange trading itself, then it will describe the difference between the US Income tax treatment and the Indonesian income tax treatment on gain on forex trading followed by the conclusion to propose the right alternative tax treatment to be implemented in Indonesia. This research uses qualitative approach with descriptive technique. Library study, field study and benchmarking are chosen to gather the information. The field study is executed by interviewing tax officers, brokers, and academic scholar. While as the benchmarking is being executed by comparing with tax rule in the United State of America to propose the right tax treatment to be implemented in Indonesia.Forex trading is traded in the Over the Counter Market where there are no centralized exchanges. The nature of forex trading is to speculate in buying or selling foreign currency contract in the spot market. According to the Indonesian income tax regulation article 4(1) leter l stated that gain on foreign exchange are treated as an taxable object whilst loss on foreign exchange principally could be recognized as deductible expense. Since the absence of specific regulation relating to the tax treatment on forex trading therefore the general rule may apply, the general rule stated forex trading falls under business income category and that all increase in economic capability originating from Indonesia as well as from offshore shall be accumulated and taxed according to article 17 tax rate.Differ from the Indonesia tax law, the US tax law on profit from the fluctuation in foreign exchange rates are treated differently from foreign exchange trading. The fluctuation in foreign exchange rate as as part of their normal course of business fall under IRC Section 988. Gains and losses from foreign exchange (such as buying and selling of foreign goods) are treated as interest income or expense and get taxed accordingly. Since forex traders are also exposed to daily exchange rate fluctuations, their trading activity falls under the provisions of Section 988. These daily fluctuations can be considered part of a currency trader's assets in the normal course of his business; the IRS gives the trader the option of rejecting (opting out) of Section 988 and electing that the gains be taxed under the favorable 60/40 split of IRC Section 1256. Under IRC Section 1256, forex traders can have a significant advantage over stock traders. Forex traders are allowed to split their capital gains using a 60% / 40% split. This means that 60% of the capital gains are taxed at the lower, long-term capital gains rate (currently 15%) and the remaining 40% at the ordinary or short-term capital gains rate, which depends on the tax bracket the trader falls under (as high as 35%). This results in an average rate of 23%, which is 12% less than the regular (short-term) rate.From the comparative study between the US tax laws on foreign exchange trading, this research propose an alternative tax policy on forex trading in Indonesia. One of the alternative is only net gain are calculated and tax. The second alternative to be implemented in the form of withholding final tax payment from every realize transaction."

"Skripsi ini membahas mengenai pencabutan fasilitas pajak penghasilan atas industri reksa dana yang kemudian melihat pengalaman dengan kebijakan perpajakan mengenai hal yang sama di negara Malaysia. Penelitian ini menggunakan pendekatan kualitatif dengan jenis penelitian deskriptif. Hasil penelitian menyimpulkan bahwa reksa dana saat ini telah berkembang dan sudah memenuhi tujuan pemberian fasilitas pajak sehingga tidak perlu lagi diberikan fasilitas tersebut. Selain itu pencabutan fasilitas pajak penghasilan bertujuan untuk menciptakan equal treatment serta mengeliminasi terjadinya tax avoidance. Meskipun di Malaysia reksa dana dibebaskan dari pengenaan pajak, Indonesia tidak serta merta dapat mengikuti hal tersebut karena setiap negara mempunyai kebutuhan yang berbeda.

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This study describes the revocation of income tax facility that previously enjoyed by the investment fund industry in Indonesia up to 2008 and conducts a comparative analysis with those happen in Malaysia. The research is using qualitative approach with a description typed of methodology. This concludes that investment fund has tremendously growing and the government is of the view that it is time to revoke the tax incentive so that it can contribute tax collection equally and eliminate tax avoidance. Even though Malaysia exempt investment fund from income tax it does not means that Indonesia should follow because every country had different purposes. This research recommended investment manager to adjust the product of investment fund."

"An employee stock option issued as a form of compensation. Employee stock option are mostly offered to management as part of their executive compensation package. They are also offered to lower staff. Employee stock options (ESOP) are issued as a private contract between the employer and employee. Depending on the vesting schedule and the maturity of the options, the employee may elect to exercise the options at whatever stock price was used as the strike price. At that point, the employee may sell the stock or hold on to it in the hope of further price appreciation. There are a variety of differences in the tax treatment of ESOP having to do with their use as compensation. The fact that the benefits from employee stock option are tax at different times in different countries is a difficulties. Also, same country may tax different parts of the benefits at different times. Based on this problem, the writer is attracted to make a research on the Income Tax Treatment Analysis on Employee Stock Option.The point of this analysis is to find when the income tax should be taxable on the benefit from the ESOP, clasiffy the benefit derived from the ESOP and analyze the international tax issue arising from ESOP. The research approach used is qualitative and the method used is descriptive. It means that the research purpose is to describe and analyze the Income Tax Treatment on Employee Stock Option. The analysis will focus on the tax treatment from the employee point of view. The data collected through in-depth interview between the researcher and the informant considered related to this research.After the research completed, there is three conclusions of this research. First, it is concluded that the Income Tax will be taxable when the stock acquired by the option is sold. This treatment is used based on the realization of income principle. Second, the classification of benefit from ESOP treated as employment income in total or split into employment income and capital gain. And the third, a variety of differences in the tax treatment of ESOP can caused the conflict in international taxation which make double taxation and double non taxation between countries. The double taxation and double non taxation can be minimized through the credit and exemption method provided by countries."

"Penghasilan musisi internasional yang mengadakan konser di Indonesia merupakan potensi penerimaan pajak bagi Pemerintah seiring dengan maraknya aktivitas industri pertunjukkan. Untuk itu diperlukan adanya administrasi pajak yang baik serta penegakan hukum oleh pemerintah. Dalam melakukan analisis, penulis menggunakan pendekatan kualitatif dengan tipe penelitian deskriptif, berdimensi lintas waktu, dan penelitian terapan. Teknik pengumpulan data menggunakan penelitian kepustakaan dan penelitian lapangan, dengan survey yang didukung dengan wawancara mendalam dan observasi.Hasil dari penelitian ini menunjukkan bahwa terdapat beberapa masalah di dalam pemenuhan kewajiban administrasi pajak atas penghasilan musisi internasional yang mengadakan konser di Indonesia. Variasi model kontrak kerjasama antara pemberi kerja dengan manajemen musisi menyebabkan timbulnya kerancuan dalam hal penentuan subjek pemotong pajak. Dalam perhitungan objek pajak PPh Pasal 26, Penulis juga menemukan unsur penambah penghasilan yang terdapat di kontrak kerjasama yang seharusnya dimasukkan dalam perhitungan.

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International musicians income that received from their concerts in Indonesia is potential tax income for the government. Good tax administration and tax law enforcement were needed by the government in the realizations. In order to make analysis of it, author was using a qualitative approach with descriptive studies, and cross sectional research. Technique of data collecting used were library research and field research, while the research was conducted through survey and supported with in depth interview and observation.The result of this research shows that there are several problems in the compliance of tax administration held by the employer of international musicians. Variant of performance contracts model resulted in uncertainty in the deciding who?s the tax withholder that obliged to withhold Article 26 Indonesian Income Tax Regulation of international musicians? income. Author also found that in calculating the tax object of Article 26 Indonesian Income Tax Regulation additional income clauses that listed in Performance Contract are excluded, which it was supposed to be added."

"Government needed more income to raise the national budget. They issued instruments to collect income from citizen through debt and foreign currency. Government released Governmental Bonds for domestic market, which sold in retail (ORI) and for international market in foreign currency. Government also presented a law execution regulation to give certainty for the consumers or the taxpayers.Governmental Regulation Number 6 which published in 2002 distinguished the tax procedure for the bonds which imposed only on transactions tradable and reportable to the stock exchange. Income derived or taken from obligation transaction should be based on a global taxation. While, for the international bonds were given the facilities by the government. We would assume that there was an inequality between the bonds for domestic market and for international market. In global taxation, we should not differentiate the income by the source.This research used a quantitative descriptive as the research method. The type and data collection techniques used (1) literature research including on various taxation regulations and another related documents and (2) field research using interviews with such related parties as tax academicians, government as issuer and regulator. They gave several opinion which created differences in equity perspective.Government figured the debt as the best instrument to raise government income. They considered that attracting foreign investor by giving them tax facility was necessary to raise the budget. They named their policy as their budgeting and regulating function. But, we should notice that domestic investor might think the inequality of the tax burden.Therefore, it was suggested to make a comprehensive and equal policy. Based on tax principle, that tax should be fair and equal. It became fair that tax imposed on the income earned from the same source (instrument) equally. If one of them was given the facility, so the other should be given the same facility."

"Direktorat Jenderal Pajak menggunakan withholding system sebagai salah satu cara yang efektif untuk memungut pajak, sebab system ini memastikan realisasi penerimaan pajak lebih. Withholding system juga dapat meminimalisir kebocoran pajak yang dilakukan melalui praktek tax avoidance dan tax evasion. Tetapi sistem ini memberikan beban yang cukup berat bagi Wajib Pajak yang dipotong dan pihak pemotong pajak karena mengganggu likuiditasnya dan menimbulkan beban administrasi. Langkah Direktorat Jenderal Pajak mengeluarkan Peraturan Direktorat Jenderal Pajak Nomor : PER-70/PJ./2007 Tanggal 9 April 2007 Tentang Jenis Jasa Lain Dan Perkiraan Penghasilan Neto Sebagaimana Dimaksud Dalam Pasal 23 Ayat (1) Huruf C Undang-Undang Nomor 7 Tahun 1983 Tentang Pajak Penghasilan Sebagaimana Telah Beberapa Kali Diubah Terakhir Dengan Undang-Undang Nomor 17 Tahun 2000, yang merupakan perubahan dari PER-178/PJ/2007 dan KEP-170/PJ./2002 yang menurunkan beberapa tarif efektif pemotongan PPh Pasal 23 yang merupakan salah satu jenis withholding tax merupakan jawaban Direktorat Jenderal Pajak atas berbagai kritik yang diterima berkaitan dengan tingginya tarif dan jenis penghasilan yang dikenakan pemotongan pajak. Pokok permasalahan dalam penelitian ini pertama, bagaimana implementasi penurunan pemotongan tarif PPh Pasal 23 khususnya atas jasa teknik, jasa manajemen dan jasa konsultasi terhadap kinerja keuangan Wajib Pajak yang mempunyai usaha dibidang tersebut di KPP PMA Lima? Kedua, faktor-faktor apa yang menentukan keberhasilan/kegagalan penerapan kebijakan pemerintah menurunkan tarif PPh Pasal 23 khususnya atas jasa teknik, jasa manajemen dan jasa konsultasi Ketiga, Apakah besaran penurunan tarif PPh Pasal 23 atas jasa teknik, jasa manajemen dan jasa konsultasi sudah tepat untuk memacu perkembangan usaha Wajib Pajak Kerangka teori yang digunakan dalam penelitian ini adalah bahwa withholding system adalah suatu sistem pemungutan pajak yang memberi wewenang kepada pihak ketiga untuk memotong/memungut besarnya pajak yang terutang, pihak ketiga yang telah ditentukan tersebut selanjutnya menyetorkan dan melaporkannya kepada fiskus. Sistem withholding tax ini dirancang untuk menghasilkan penerimaan pajak dengan jumlah yang besar secara lebih efisien dan tidak memerlukan biaya yang besar, sangat efektif untuk memungut pajak penghasilan. Kelemahan dari pemotongan pajak ini dapat menimbulkan kesulitan yang cukup besar pada Wajib Pajak tertentu sebagai akibat dari kelebihan potong serta munculnya biaya administrasi untuk memotong pajak bagi pihak yang membayarkan penghasilan. Metode penelitian yang digunakan dalam penelitian ini adalah metode kualitatif. Analisa penelitian didasarkan pada data kinerja keuangan dan laporan SPT Tahunan PPh Badan Wajib Pajak sampel serta hasil wawancara mendalam dengan Kepala Kantor Pelayanan Pajak PMA Lima, konsultan pajak dan pakar masalah withholding tax serta Account Representative yang mengawasi kewajiban perpajakan Wajib Pajak.Hasil penelitian terhadap data kinerja keuangan Wajib Pajak sampel menunjukkan bahwa semua Wajib Pajak sampel mengalami peningkatan kinerja keuangan setelah diterapkannya kebijakan penurunan tarif pemotongan PPh Pasal 23. Kenaikan kinerja keuangan Wajib Pajak karena peningkatan omzet penjualan dan efisiensi biaya operasional sehingga Wajib Pajak memperoleh laba yang jauh lebih baik dibanding tahun sebelumnya. Analisia terhadap hasil wawancara mendalam memberi gambaran bahwa faktor-faktor utama yang menentukan kenaikan omzet penjualan Wajib Pajak adalah adanya ekspansi usaha, dan meningkatnya order dan perolehan order baru. Penurunan tarif PPh Pasal 23 hanya faktor pendukung yang kontribusinya tidak signifikan. Wajib Pajak menyambut biasa saja penurunan tarif PPh Pasal 23 ini dan lebih mempertanyakan tentang kepastian hukum mengenai jenis penghasilan yang dikenakan pemotongan pajak. Dapat diberikan beberapa saran, pertama, sebelum menentukan tarif pemotongan pemerintah seharusnya Direktorat Jenderal Pajak mengadakan kajian terlebih dahulu untuk mengetahui berapa laba rata-rata per industri supaya didapatkan tarif yang tepat yang tidak memberatkan Wajib Pajak dan tidak menyebabkan kelebihan potong dengan melibatkan semua pihak terkait. Kedua, perlu dilakukan penelitian secara kuantitatif dengan jumlah populasi dan sampel yang lebih besar untuk mengetahui pengaruh penurunan tarif pemotongan PPh Pasal 23 terhadap kinerja keuangan Wajib Pajak agar bisa diambil kesimpulan secara umum. Ketiga, perlu dilakukan penelitian lebih mendalam untuk mengetahui faktor-faktor yang menyebabkan turunnya prosentase biaya operasional Wajib Pajak. Keempat, perlu dilakukan penelitian lebih lanjut bagaimana hubungan antara faktor kepercayaan Wajib Pajak kepada Account Representative dengan meningkatnya kepatuhan Wajib Pajak dalam menyajikan laporan keuangannya.

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The Directorate General of Taxes (DGT) using withholding system as one of the effective ways to collect taxes because this system makes tax collected earlier. Although in the other side, this system gives taxpayer and withholder load administratively. Inappropriate tax rate can disturb taxpayer liquidity and company operational. Based on these condition, DGT released the regulation number : PER-70/PJ./2007 about other services and net income estimation that decreased some effective rate of withholding income tax article 23 (PPh Pasal 23). The research aim to analyze, first, how does the decreasing in income tax article 23 for technical, management and consultant services implementation and the effect to tax payer financial performance in Foreign Investment Five Tax Office (KPP PMA Lima). Second, what does the success factor that determine policy implementation. Third, how the effectiveness of decreasing rate can stimulate tax payer business growth? The theory which support research is withholding at source is method of collecting income tax whereby the party paying income to a taxpayer (e.g., an employer) is required to deduct the tax due from the taxpayer's paycheck. Countries that levy relatively successful income taxes collect most of the tax through withholding or 'third party' techniques that in effect charge a third party with the tasks of deducting the tax form some payment being made to the taxpayer and then remitting the proceeds to the government. Unfortunately this system can make difficulties to the taxpayer as effect of over withheld and arising administrative cost to withheld tax for the party that making payment. To answer the research aim, the researcher used the qualitative method. Research was analysis base on taxpayer financial performance data and corporate income tax return that reported to KPP PMA Lima. These data will be cross check with the result of interviews with head office of KPP PMA Lima, tax consultant and account representative who control taxpayer's obligations.The result of these research shows that taxpayer samples financial performance increase after decreasing in income tax article 23 implementation. But in fact, this condition more caused by increased in sales and operational cost efficiency, so that taxpayer made higher profit. From analyzing in depth interview describes that taxpayer sales increased determined factor was business expand, contract extension and obtain new contract. So, decreasing in income tax article 23 implementation was just supporting factor that didn't significance to taxpayer business growth. Although it didn't significance, but, too high rate and followed by inefficiency and didn't comply taxpayer can made over withheld that caused compliance cost by tax audit refund. The other significance factor that increased taxpayer financial performance was complying in financial report. In the other side, researcher found that taxpayer concern to law certainty about object of income withheld more than rate. Therefore researcher suggested, first, DGT should make research to know average profit per industry so can find appropriate rate that make taxpayer burden and over withheld. Second, quantitative research with bigger population and sample to take general conclusion is needed to know the impact of decreasing in tax rate to taxpayer financial performance. Third, the deepen research is needed to know the factors that caused decreasing in percentage of operational cost. Forth, further research is needed to know relationship between trust factor among fiscus and taxpayer with taxpayer complying in financial report."

"Skripsi ini membahas tentang pemenuhan kriteria asas-asas perpajakan dalam Peraturan Pemerintah Nomor 51 Tahun 2008. Tujuan dari penelitian ini adalah untuk mengetahui asas-asas perpajakan apa saja yang terpenuhi dalam Peraturan Pemerintah Nomor 51 Tahun 2008. Metode penelitian yang digunakan adalah penelitian kualitatif dengan design deskriptif. Pemberlakuan surut Peraturan Pemerintah Nomo 51 Tahun 2008 menimbulkan banyak kerugian bagi Wajib Pajak. Mereka diwajibkan untuk membayar pajak yang terutang bukan pada waktu memperoleh penghasilan (prinsip ability to pay tidak terpenuhi). Perubahan-perubahan peraturan perpajakan atas penghasilan dari usaha jasa konstruksi merepotkan Wajib Pajak karena membuat mereka harus berulang kali mengajukan permohonan pemindahbukuan pajak yang telah dibayar. Pengenaan PPh final bagi seluruh Wajib Pajak usaha konstruksi juga sangat tidak adil karena pengenaan pajak tidak lagi memperhatikan keadaan Wajib Pajak sedang untung atau rugi. Revenue adequacy principle terpenuhi dalam peraturan ini. Equity principle tidak terpenuhi. Certainty principle terpenuhi karena dengan Peraturan Pemerintah Nomor 51 Tahun 2008 pengenaan PPh final atas usaha jasa konstruksi menjadi pasti, tapi convinience sebagai salah satu unsur dari certainty tidak terpenuhi.

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This thesis discusses about the fulfillment of the criteria of the principles of taxation in Government Regulation No. 51 of 2008. The purpose of this study is to determine the principles of taxation what is fulfilled in Government Regulation No. 51 of 2008. The method used is descriptive qualitative research design. Enabling ebb Government Regulation No. 51 Year 2008 caused much loss to taxpayers. They are required to pay the tax due is not earning at the time (the principle of ability to pay is not met). Changes in tax regulations on business income taxpayers inconvenient construction because they must repeatedly make the transfer request is filed taxes already paid. Imposition of the final income tax for the entire construction business taxpayers also very unfair because the taxation is no longer concern the taxpayer is lucky or loss. Revenue-adequacy principle is fulfilled in this rule. Equity principle is not fulfilled. Certainty principle is fulfilled because the Government Regulation Number 51 Year 2008 final imposition of income tax on construction services business to be sure, but convenience as one element of certainty is not met."

"Skripsi ini membahas tentang analisis penentuan penatapan kegiatan Bentuk Usaha Tetap atas Agen yang tidak Bebas pada Undang-Undang Pajak Penghasilan. Penelitian ini adalah penelitian kualitatif dengan desain deskriptif. Permasalahan yang diangkat dalam skripsi ini adalah bagaimana penetapan kegiatan atas Agen yang tidak bebas sebagai Bentuk Usaha Tetap serta menentukan alat uji yang digunakan untuk penetapan tersebut.Hasil penelitian menunjukkan bahwa penentuan yang ditetapkan dalam Undang-Undang Pajak Penghasilan menggunakan alat uji yang masih bersifat primer atau dasar yakni tempat tetap dan keterikatan dalam penentuannya seperti disebutkan dalam memori penjelasan Pasal 2(5) huruf n, penentuan dalam memori tersebut memasukkan pua ketrikatan sebagai alat uji namun alat uji tersebut tidak cukup guna menyikapi perubahan aktivitas usaha yang bersifat dinamis, sehingga membawa konsekuensi perubahan dalam Undang-Undang Pajak

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In International transaction nowadays that use by foreign enterprises make tax consequences, main criterion wether a source country can have power to tax for the profit that the enterprise earn from the source is, if the source country can prove that the foreign enterprise when running their own business using a permanent establishment in there. A clear tax policy that the government have made will help the tax authority to consitute it. Now a basic rule for permanent establishment that using a fixed base test are going to change and replace by a person as a subtitute the place test. A dynamic change have been take by countries to adjust a basic rule to a specific rule is called an agency clause. By using an agency clause the source country have already to make effort to face the situation hopefully.

The result from this research is that tax law contains rules which consisted of main part and explanation. Constriction and expansion of the subject matter can not be done in explanation. But, the condition in explanation of income tax law Sec. 2 (5) (n) about a dependent agent, especially about the the tools that used for determined a dependent agent as a permanent establishment. Determination of dependent agent which is include as a permanent establishment using the regulation mentioned in explanation. The condition fulfilled by a fixed base test and dependency test to constitute a dependent agent as a permanent establishment."

"Setiap pihak yang berinvestasi dalam saham mengharapkan dividen dan atau capital gains. Perseroan dalam membagi dividen kepada pemegang sahamnya mempunyai dua cara yaitu secara tunai dan non tunai. Metode non tunai yang terkenal adalah share buy back. Perlakuan pajak atas penghasilan dari transaksi share buy back dapat dikenakan sebagai dividen atau capital gains. Perlakuan sebagai dividen atau capital gains menjadi rumit di lapangan karena adanya beberapa bentuk dan kondisi share buy back yang berbeda. Adanya beberapa bentuk dan kondisi share buy back yang berbeda perlu dipelajari dan dicermati secara baik oleh pembuat kebijakan perpajakan untuk merumuskan bagaimana seharusnya perlakuan perpajakan terhadap penghasilan dari transaksi share buy back yang diterima atau diperoleh pemegang saham. Kebijakan perpajakan diharapkan mengacu kepada hakekat ekonomi yang terjadi dalam setiap Janis transaksi share buy back Dengan demikian asas keadilan, netralitas dan kepastian hukum bagi Wajib Pajak dapat diterapkan dengan baik.Pokok permasalahan tesis ini adalah bagaimana penentuan obyek pajak atau penentuan dasar pengenaan pajak atas penghasilan dari transaksi share buy back yang diterima atau diperoleh pemegang saham. Penghasilan tersebut diperlakukan sebagai dividen ataukah sebagai capital gains.Setiap pembagian laba ditahan kepada pemegang saham arahnya menuju ke bentuk-bentuk distribusi dividen termasuk dengan cara share buy back. Untuk itu setiap pengenaan pajak harus didasarkan pada hakekat ekonomi atas transaksi yang sebenarnya. Sehingga tambahan kemampuan ekonomi yang dinikmati wajib pajak yang terlibat dalam transaksi dapat terukur dengan baik. Di dalam Undang-undang PPh disebutkan: setiap tambahan kemampuan ekonomis yang diterima atau diperoleh wajib pajak (realized income), baik yang berasal dari Indonesia maupun dari luar Indonesia (world wide income), yang dapat dipakai untuk konsumsi atau untuk menambah kekayaan wajib pajak yang bersangkutan dengan nama dan dalam bentuk apapun (substance over form principle). Konsep tersebut akan dapat terwujud apabila asas keadilan horisontal dan keadilan vertikal diterapkan dalam tahap pembuatan peraturan sampai tahap implementasinya.Metode penelitian yang dipakai adalah metode penelitian dokumen dan lapangan. Penelitian dokumen dilakukan dengan meneliti hasil karya ilmiah dan ketentuan perudang-undangan di bidang perpajakan, perseroan terbatas, pasar modal, termasuk peraturan pelaksanaannya serta prospektus Wajib Pajak terkait. Metode penelitian lapangan dilakukan melalui wawancara kepada analis sekuritas, konsultan pajak, pejabat Bapepam dan pejabat Ditjen Pajak. Sedangkan teknik penelitian yang digunakan dalam penulisan tesis ini adalah deskriptif analitis.Berdasarkan analisis yang dilakukan, dapat disimpulkan bahwa belum ada ketentuan Pajak Penghasilan yang mengatur secara lengkap, jelas dan menyeluruh tentang perlakuan perpajakan atas penghasilan dari transaksi share buy back. Oleh karena itu disarankan agar segera dikaji secara seksama semua bentuk transaksi share buy back dengan mempertimbangkan ketentuan-ketentuan Undang-undang Perseroan Terbatas, Undang-undang Pasar Modal dan Tax Treaties sehingga dapat dikeluarkan peraturan Pajak Penghasilan yang mengatur secara lengkap, jelas dan menyeluruh tentang perlakuan perpajakan atas penghasilan dari transaksi share buy back.Pokok-pokok yang perlu diatur antara lain: menegaskan bahwa sumber dana share buy back dari laba ditahan merupakan pembagian dividen; dasar pengenaan dividen dari share buy back proporsional adalah atas seluruh pembayaran tetapi jika non proporsional atas selisih harga jual dan beli saja; pada saat menerima/memperoleh penghasilan share buy back tetap sebagai pemegang saham diperlakukan sebagai dividen tetapi jika bukan pemegang saham lagi penghasilan tersebut diperlakukan sebagai capital gains; kepemilikan saham secara efektif tidak berubah setelah share buy back merupakan dividen atas seluruh pembayaran tetapi jika berubah pengenaan dividen hanya atas selisih harga jual dan beli.Untuk mempertahankan prinsip keadilan dan netralitas sebaiknya tarif pajak atas dividen dari berbagai bentuk transaksi share buy back mengacu pada Pasal 23 UU PPh yaitu 15% dan memperhatikan realisasi penghasilan yang sesungguhnya. Atas penghasilan tersebut digabungkan dengan penghasilan lain (global income/global taxation) dan dikenakan satu macam tarif progressif yaitu tarif Pasal 17 UU PPh dengan memperhitungkan pajak yang telah dipotong sesuai definisi penghasilan yang diamanatkan dalam Pasal 4 ayat (1) UU PPh."

"EPC project meaning that a construction company will handle whole work, from designing activity, procurement and implementation construction. Base imposition withholding tax article 23 and Value Added Tax (VAT) on EPC project are from their service value. However, in fact EPC project have same treatment equal with construction services in general. This difference is happen because there are no specific regulation about the EPC project. The regulation that exist for now, just only controls about the taxation charge for the construction company in general.

The research is using quantitative approach in intention to have better understanding and interpretation about a social phenomenon through observation. This research is among descriptive research to describe research object based on the fact notice or as it is. Primary data gathering is acquired by doing in-depth interview to discover information from informant who is directly involve in EPC project especially with taxation division, the government who is making the policy, tax consultant, academician and association of constructions. Secondary data is acquired by literature study to optimize theoretical framework in deciding the purpose and goal of the research also the concepts and other theoretical material in conjunction with research problem. Data analyses are using qualitative data analysis based on field discovery, both primary and secondary data.

From the analysis that are conducted, it is found that the basic differences about the charge between withholding tax article 23 and basic charge of VAT on EPC project. The reason is there are differences of understanding the regulation that exist, this thing is practically cause some problems, whether it is between the EPC industrialist with the owner of the project, or between the EPC industrialist with the taxation checkers side. So, it is necessary for making the constitution regarding the tax object of EPC project . Next, specific taxation regulation about the EPC project needs to be created, to think of there are non similar understandings of the regulation that exist. With the existence of the specific special regulation about the EPC project, It is doubtfully will not cause the difference of understandings between the EPC industrialist and the owner of the project."