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                          DEPARTEMEN KEUANGAN REPUBLIK INDONESIA
                       DIREKTORAT JENDERAL PAJAK
___________________________________________________________________________________________
                                               12 Agustus 1998      

                           SURAT DIREKTUR JENDERAL PAJAK
                        NOMOR S - 185/PJ.312/1998

                            TENTANG

        PERMOHONAN PEMBAHARUAN SURAT MENTERI KEUANGAN RI NOMOR S-919/MK.04/1989 
                        TANGGAL 30 AGUSTUS 1989

                        DIREKTUR JENDERAL PAJAK,

Sehubungan dengan surat The Korea Development Bank Nomor : XXX tanggal 2 Juli 1998 perihal permohonan 
pembaharuan surat Menteri Keuangan RI Nomor S-919/MK.04/1989 tanggal 30 Agustus 1989, dengan 
permintaan tanpa merubah makna dari surat terdahulu, kami berpendapat sebagai berikut :

1.  Surat tersebut mengkonfirmasikan bahwa sampai dengan saat ini seluruh saham The Korea 
    Development Bank sepenuhnya masih dimiliki oleh Pemerintah Republik Korea Selatan.

2.  Surat Menteri Keuangan RI Nomor S-919/MK.04/1989 tanggal 30 Agustus 1989 tersebut menyatakan 
    bahwa mengingat The Korean Development Bank sepenuhnya dimiliki oleh pemerintah Korea Selatan, 
    maka Menteri Keuangan setuju bahwa sesuai Pasal 11 ayat (4) dan Pasal 19 P3B antara Republik 
    Indonesia dengan Republik Korea Selatan bahwa bunga yang diterima oleh The Korean Development 
    Bank yang bersumber dari Indonesia serta balas jasa (renumeration) yang diterima oleh Pegawai 
    Bank tersebut yang bukan penduduk Indonesia dibebaskan dari pengenaan Pajak di Indonesia.

3.  Perjanjian Penghindaran Pajak Berganda antara Republik Indonesia dengan Republik Korea Selatan 
    antara lain menyatakan :

    a.  Pasal 11 ayat (3) dan ayat (4) :
        Interset arising in a Contracting State and derived by the Government of the other Contracting 
        State including political subdivisions and local authorities thereof, the central Bank of that 
        other Contracting State or any financial institution wholly owned by that government, or by 
        any resident of the other Contracting State with respect to debt-claims guaranteed or indirectly 
        financed by the Government of that other Contracting State including political subdivisions and 
        local authorities thereof, the Central Bank of that other Contracting State or any financial 
        institutions wholly owned by that Government shall be exempt from tax in the first mentioned 
        Contracting State.

        For the purpose of this paragraph, the term "the Central Bank" and "financial institution 
        wholly owned by the Government" mean :
        -   In the case of Korea :
            (1)     the Bank of Korea;
            (2)     the Korea Export-Import Bank;
            (3)     the Korea Exchange Bank;
            (4)     such other financial institution the capital of which is wholly owned by the 
                Government of the Republic of Korea as may be agreed upon from time to 
                time between the Governments of the two Contracting States.

    b.  Pasal 19 ayat (1) huruf a dan ayat (4) :

        1.  (a) Remuneration, other than a pension, paid by a Contracting State, or 
                a political subdivision or local authority thereof to an individual in respect of 
                services rendered to that Contracting State, or political subdivisions or local 
                authority thereof, shall be taxable only in that Contracting State.
    
        4.  The provision of paragraph 1 and 2 of this Article shall likewise apply in respect 
            of remuneration or pensions paid, in case of Korea, by the Bank of Korea, 
            The Export-Import Bank of Korea, the Korea Exchange Bank, the Korea Trade 
            Promotion Corporation and other government owned institution performing functions 
            of governmental nature as may be agreed upon from time to time by the 
            Government of the two Contracting States.

4.  Berdasarkan uraian tersebut di atas, sepanjang belum ada peninjauan kembali terhadap status Korea 
    Development Bank yang dalam surat Menteri Keuangan tersebut digolongkan sebagai "other 
    government owned institution performing functions of governmental nature as may be agreed upon 
    from time to time by the Government of the two Contracting States" kami berpendapat permohonan 
    The Korea Development Bank tersebut sesuai dengan P3B antara Republik Indonesia dengan Republik 
    Korea Selatan sehingga dapat dikabulkan.

Apabila Bapak tidak berpendapat lain bersama ini kami sampaikan konsep surat Bapak kepada Chief 
Representative The Korea Development Bank untuk Bapak tandatangani.




DIREKTUR JENDERAL

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