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2021•Advances in economics, business and management research/Advances in Economics, Business and Management ResearchOpen access

Tax and Business Issues on Asset-Backed Securitization in Indonesia

Wulandari Kartika Sari, Fatmah Sabrina, Milla Sepliana Setyawati

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Abstract

Asset securitization is an alternative source of innovative infrastructure funding to achieve large infrastructure financing targets in Indonesia.This asset securitization study aims to discuss regulatory issues in business categories and tax implications related to CIC-ABS in Indonesia.This research using a qualitative approach and descriptive research type conducted from February 2020 to July 2020.The results show that there are no regulations regarding the form of business of CIC ABS in Indonesia.Thus, CIC ABS does not get an exemption from withholding Income Tax Article 23 on margin income.It resulted in overpayments of taxes and economic double-taxation, which disrupted the liquidity of CIC ABS.

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Asset securitization is an alternative source of innovative infrastructure funding to achieve large infrastructure financing targets in Indonesia.This asset securitization study aims to discuss regulatory issues in business categories and tax implications related to CIC-ABS in Indonesia.This research using a qualitative approach and descriptive research type conducted from February 2020 to July 2020.The results show that there are no regulations regarding the form of business of CIC ABS in Indonesia.Thus, CIC ABS does not get an exemption from withholding Income Tax Article 23 on margin income.It resulted in overpayments of taxes and economic double-taxation, which disrupted the liquidity of CIC ABS.

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Available abstract

Asset securitization is an alternative source of innovative infrastructure funding to achieve large infrastructure financing targets in Indonesia.This asset securitization study aims to discuss regulatory issues in business categories and tax implications related to CIC-ABS in Indonesia.This research using a qualitative approach and descriptive research type conducted from February 2020 to July 2020.The results show that there are no regulations regarding the form of business of CIC ABS in Indonesia.Thus, CIC ABS does not get an exemption from withholding Income Tax Article 23 on margin income.It resulted in overpayments of taxes and economic double-taxation, which disrupted the liquidity of CIC ABS.

Key concepts: Securitization, Business, Asset (computer security), Financial system, Finance, Computer security, Computer science

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