Fiscal Reconciliation: Complete Guide and List of Financial Statement Adjustment Codes in the Coretax Era

This article will thoroughly explore the new mechanism, presenting the complete list of FPO and FNE codes according to PER-11/PJ/2025, along with technical case illustrations.

I. Legal Basis and New Reporting Paradigm

In Coretax, Commercial Financial Statements and Fiscal Reconciliation are combined into a single workflow in Attachment 1 (L1). This system demands transparency where every fiscal correction—both positive and negative—must be defined with a specific Fiscal Adjustment Code,. This aims to standardize supervision data and minimize interpretation errors between Taxpayers and the fiscus (tax officers).

II. New Structure of Attachment 1: Business Sector Segmentation

Taxpayers must understand that the Financial Statement format in Coretax is divided into 12 sub-categories based on business sectors to accommodate different account characteristics, namely,:

• L1-A: General.
• L1-B: Manufacturing.
• L1-C: Trading.
• L1-D: Services.
• L1-E: Conventional Banks.
• L1-F: Pension Funds.
• L1-G: Insurance.
• L1-H: Property.
• L1-I: Sharia Banks.
• L1-J: Infrastructure.
• L1-K: Securities.
• L1-L: Financing.

III. Complete List of Fiscal Adjustment Codes

In the Profit & Loss Statement form in Coretax, Taxpayers are required to select an adjustment code if filling in the fiscal correction column. Here are the complete details of FPO (Positive Fiscal) and FNE (Negative Fiscal) codes available in the system:

A. Positive Fiscal Adjustment Codes (FPO)

These corrections are made for costs that are expensed according to commercial accounting but are not deductible according to fiscal provisions (Income Tax Law Article 9), thus increasing taxable profit.

B. Negative Fiscal Adjustment Codes (FNE)

These corrections are made to reduce fiscal profit, usually due to differences in revenue recognition or depreciation methods where fiscal recognition is larger.

IV. Usage Mechanism and Multi-Code Feature

Mechanism for Using Fiscal Adjustment Codes

In the Profit & Loss Statement form in Coretax, each account row (e.g., "Salary Expenses" or "Other Income") has the following columns that must be filled out horizontally:

1. Commercial Value: Value according to the Taxpayer's accounting books.
2. Non-Taxable Object: Filled if there is a portion of the commercial value that is not a tax object.
3. Subject to Final Tax: Filled if there is a portion that has been subject to Final Income Tax.
4. Non-Final Tax Object: (Automatically calculated by the system).
5. Positive Fiscal Adjustment: Correction value that increases fiscal profit (Must fill FPO Code if there is a value).
6. Negative Fiscal Adjustment: Correction value that decreases fiscal profit (Must fill FNE Code if there is a value).
7. Fiscal Adjustment Code: A dropdown menu that must be selected if columns (5) or (6) are filled.
8. Fiscal Value: (Automatically calculated: Commercial - Non Object - Final + FPO - FNE),.

Mandatory Filling

Filling in the Fiscal Adjustment Code is mandatory if the Taxpayer enters numbers in the Positive or Negative Fiscal Adjustment columns. If the correction column is filled with numbers but the code is left blank, the Coretax system will not allow data saving (Save Draft).

"Multi-Code" Feature

One of Coretax's advantages is the ability to select more than one adjustment code in a single expense or income account. For example, in one "Other Expenses" account, there are corrections for donation costs (non-deductible) and tax penalties. Taxpayers can select two different codes for that single account row, making the correction details very clear.

V. Case Illustrations

Here are examples of code application for PT. Maju Terus for the 2025 Tax Year.

Case 1: Other Operating Expenses Account (Multi-Code)

Steps in Coretax,:

• Open account 5399.
• Fill Commercial Value: IDR 100,000,000.
• Fill Positive Fiscal Adjustment: IDR 80,000,000.
• In the Fiscal Adjustment Code column, select two codes simultaneously: FPO-08 (Administrative sanctions) and FPO-06 (Income Tax).
• The system automatically calculates the Fiscal Value to be IDR 20,000,000.

Case 2: Correction of Fixed Asset Depreciation

Steps in Coretax,:

• Open account 5314.
• Fill Commercial Value: IDR 60,000,000.
• Fill Negative Fiscal Adjustment: IDR 40,000,000.
• Select Fiscal Adjustment Code: FNE-02 (Difference where commercial depreciation is lower than fiscal depreciation).
• Fiscal Value becomes IDR 100,000,000.

Case 3: Time Deposit Interest Income (Final)

Steps in Coretax,:

• Open the Interest Income account (e.g., Code 4027/4511).
• Fill Commercial Value: IDR 200,000,000.
• Fill the Subject to Final Tax column: IDR 200,000,000.

Note: Filling this column automatically zeroes out the Fiscal Value for that account. There is no need to fill in the Negative Fiscal Adjustment column FNE-01 if it has been allocated to the "Subject to Final Tax" column, unless extracting costs related to that final income in the expense account (FPO-11).

VI. Conclusion

The implementation of FPO and FNE Adjustment Codes in Coretax requires Taxpayers to map commercial expense accounts to standard Coretax accounts with precision. The multi-code feature provides ease in detailing a single expense account containing various types of corrections without needing to split accounts in commercial bookkeeping.

Taxpayers are advised to always refer to PER-11/PJ/2025 when determining codes, as incorrect code selection can trigger risk of inquiries or audits (audit trigger). Ensure internal reconciliation working papers are kept neatly as supporting data for the codes selected in the Coretax system.