The Ministry of Finance has issued Regulation No. 79/PMK.03/2008, which is effective 23 May 2008 and replaces the former Decree No. 486/KMK.03/2002. Pursuant to the new regulation, an application can be submitted to the Director General of Taxation for the revaluation of fixed assets, subject to the following rules:
- eligible persons are resident companies and permanent establishments that do not keep their books in English or their accounts in USD and who have fulfilled their t…