{
    "success": true,
    "data": {
        "id": 1219729,
        "msgid": "income-tax-on-foundations-1447893297",
        "date": "1995-07-22 00:00:00",
        "title": "Income tax on foundations",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Income tax on foundations JAKARTA (JP): Social foundations are subject to income tax only when their taxable gross incomes are larger than their operation costs, Tax Director General Fuad Bawazier announced yesterday. \"However, donations, grants and assistance received by social foundations are not classified into taxable incomes,\" Fuad said in a directive meant to clarify a circular on the same subject issued a few weeks ago.",
        "content": "<p>Income tax on foundations<\/p>\n<p>JAKARTA (JP): Social foundations are subject to income tax<br>\nonly when their taxable gross incomes are larger than their<br>\noperation costs, Tax Director General Fuad Bawazier announced<br>\nyesterday.<\/p>\n<p>\"However, donations, grants and assistance received by social<br>\nfoundations are not classified into taxable incomes,\" Fuad said<br>\nin a directive meant to clarify a circular on the same subject<br>\nissued a few weeks ago.<\/p>\n<p>He added that social foundations' earnings, which were<br>\npreviously subject to income tax at the fixed final rate, from<br>\ntime deposits and current accounts are not classified as taxable<br>\nincomes.<\/p>\n<p>The directive also lists the kinds of costs which are<br>\ndeductible from the taxable incomes of social foundations engaged<br>\nin health and educational services.(04)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/income-tax-on-foundations-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}