EVALUATION OF FISCAL CORRECTION BASED ON INCOME TAX ACT NO 36 YEAR 2008, STUDY CASE AT PT.X

Abstract

This thesis is a study of the application of fiscal correction in the financial statements. The purpose of this thesis is to determine how the object of this research, which is PT.X, applying its fiscal correction on its commercial financial statements to be fiscal financial statements, and then to determine whether the correction has been applied in accordance with the applicable laws in Indonesia. In this thesis, researcher used a qualitative method which is the analysis of data to discover an issue initiated by observing and studying cases and relating it to certain theories and studies. The procedures used in the research are in inquiring, observing, and documenting. In the process, the researcher found several findings in the form of errors in correction or any income and expenses that should be corrected but did not do any correction. That led to the difference between the calculation of tax payable by PT.X and the tax payable calculated based on the findings during the research. Corrections made based on these findings turned out to result in a greater tax payable rather than tax payable from the corrections made by the company. Regarding this, companies are advised to revise the Annual Tax Return which has been reported to the Tax Office. In the case of revision, the company will be fined as calculated from the difference between underpayment taxes payable multiplied by the penalty interest of 2% per month calculated from the due date until the submission of the Annual Tax Return conveyed in rectification. In addition, the researcher also recommend a few things to improve tax system in PT.X, including; companies are advised to use the services of a tax consultant in order to avoid further losses; replace the gift of benefits in kind to the form of cash; give more attention to tax law updates including derivative regulations of the Income Tax Act 2008.