The Ministry of Finance has set a new tax administration sanction rate for the coming year, 2022. On December 28, 2021, Minister of Finance Decree Number: 70/KM.10/2021 was issued in Jakarta. This rate is effective from January 1, 2022 through January 31, 2022.

The interest rate will rise by 0.02 percent in January 2022 compared to the previous month. The amount of interest rates varies from month to month. This is because the interest rate every month is calculated using the formula for the reference interest rate set by the Minister of Finance, which is multiplied by the uplift factor from each article and divided by 12.

The table below shows the specifics of administrative sanctions for January 2022:

Source: KMK No. 70/KM.10/2021 (https://fiskal.kemenkeu.go.id/informasi-publik/kmk-tarif-bunga)

 

Similar to the monthly interest rate, which is used to calculate interest compensation, there has been an increase, and it now stands at 0.52 percent.

The table below shows the interest rates that will be in effect in January 2022:

Source: KMK No. 70/KM.10/2021 (https://fiskal.kemenkeu.go.id/informasi-publik/kmk-tarif-bunga)

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