GMT’s Effects on Financial Reporting: Insights from MUC Director at IFA International Tax Seminar

JAKARTA. MUC Consulting’s Director of Transfer Pricing, Zulhanief Matsani, emphasized the importance for Indonesian companies to start preparing for the implementation of the global minimum tax (GMT).

This regulation will not only affect potential tax risks but also create additional obligations, including those related to the presentation of financial statements.

He delivered these remarks at the International Tax Seminar organized by the International Fiscal Association (IFA) on Wednesday (3/12) in Jakarta.

Collaboration Between Tax Practitioners and Public Accountants

According to Zulhanief, it is crucial to strengthen collaboration among tax experts, auditors, and public accountants in applying the GMT rules.

In addition to highlighting the preparation of commercial financial statements, Zulhanief also discussed implementation steps and case studies on how GMT rules may apply in Indonesia.

The case studies presented included scenarios where the Ultimate Parent Entity (UPE) is located in Indonesia, as well as situations where the entity is only a member of a multinational group.

About the IFA International Tax Seminar

This seminar is an annual agenda of IFA Indonesia. This year’s event was held as a full-day program at Mangkuluhur ARTOTEL Suites, Jakarta.

The seminar brought together around 200 participants from diverse professional backgrounds, including tax consultants, lawyers, government officials, corporate executives, policymakers, and academics.

The event opened with keynote speeches delivered by the Director of International Taxation, Mekar Satria Utama, and IFA President, Natalia Quinones.

The seminar was organized into four sessions, each covering the following themes:

• Session 1: The Latest Updates on Pillar 2
• Session 2: Transfer Pricing in the Era of Global Transparency: Managing Risks and Resolving Disputes
• Session 3: International Tax and Anti-Avoidance Policy Updates
• Session 4: Tax Considerations in Mergers and Acquisitions: Structuring, Integration, and Post-Deal Compliance

MUC Consulting also took part in the event as an official supporting partner. (ASP)