Study of Implementation of Fiscal Correction as an Effort to Efficiently Pay Income Tax Payable for Corporate Taxpayers

Abstrak

The tax law in Indonesia adheres to Self Assesment System which requires taxpayer to calculate, pay, and reporting their tax obligations, this system will make it difficult for taxpayers who do not understand the applicable tax law which can result in overpayments and underpayments of tax payable. For the taxpayers, payment of taxes is one of any cost that will reducing margin contributions.  To achieve tax payment efficient, legal withholding tax, and increase financial performance we need Tax Planning for reducing tax cost overall.  One of tax planning is commercial income correction to the fiscal income statement in Income Tax.  Fiscal Correction is correcting the commercial income statement to the fiscal income statement which accept by tax authorities.This research uses a qualitative method with a case study in PT. XYZ Jakarta by describing, recalculating, and analyzing the result in accordance with applicable tax law so that the financial report of PT. XYZ are in accordance with the applicable tax law (Fiscal Financial Statement), this is called fiscal correction of financial reports. Fiscal Correction of Income Statement is legal point for withholding tax payment as per Tax Regulation (Undang-undang RI) No.28/2007 and No.36/2008. Application of Tax Planning with Fiscal Correction reducing tax payment from Rp. 59.419.480 to Rp. 39.497.348,- that mean will save Rp.19.922.132 of tax payment. This research shows that tax payment can be planned so that tax payments owed can be smaller or saving tax payment by making fiscal correction of financial report.