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In the short term, the use of book value will result in a profit where at the time the tax payment obligations will be
stagnant / fixed from year to year after the business merger.

4.1 Terms of Use of Book Value
Each subsidiary has met the requirements for business objectives (Business Purpose Test) in PER Number 28 / PJ / 2008,
which includes:
• Creating a strong business synergy and strengthening the capital structure and not for tax evasion;
• Business activities of Taxpayers who transfer assets are still ongoing until the effective date of the merger;
• Business activities of Taxpayers who transfer assets before the merger occur must be continued by Taxpayers who
receive transfer of assets for at least 5 (five) years after the effective date of the merger;
• Business activities of Taxpayers who receive assets for the purpose of the merger will continue for at least 5 (five)
years after the effective date of the merger;
• Business activities of a Taxpayer who receives assets in the context of business expansion must take place for at
least 5 (five) years after the effective date of business expansion; and
• Assets owned by Taxpayers who receive assets after the merger or business expansion are not transferred by the
Taxpayers who receive the assets at least 2 (two) years after the effective date of the merger or business expansion.

Of the six requirements for business objectives, at least two of them have been fulfilled by each subsidiary, namely
creating a strong business synergy and business activities are still ongoing today. Other unfulfilled conditions are
marked with an (x) sign. So as a whole, for the requirements for submitting book value, the subsidiary of PT Rajawali
Nusantara Indonesia Persero is not quite ready to apply for book value use. This is because PT Rajawali Nusantara
Indonesia Persero is still in the process of determining a consultant and also the Public Appraisal Service Office (KJPP)
to determine the fair value and book value of each subsidiary. PT Rajawali Nusantara Indonesia Persero has also recently
formed a crisis management team for a sugar industry subsidiary. Where this team will have the following duties and
responsibilities:
a. Evaluating the performance of sugar industry subsidiaries
b. Develop strategic goals, business, work programs and implementation timelines in order to improve the
performance of the sugar industry subsidiary units
c. Prepare a corporate action plan and a corporate action timeline in preparation for the restructuring of the sugar
industry subsidiary.
•
5. CONCLUSION

Based on the discussion that has been conveyed, this research can be concluded that from the results of the evaluation
of the implementation of the rules for the use of book value for the three subsidiaries of PT Rajawali Nusantara
Indonesia (Persero), seen from the completeness of the requirements for business merger application documents,
each subsidiary has not met the requirements for use. The book value method because it is still in the review stage to a
consultant appointed by PT Rajawali Nusantara Indonesia (Persero).
Suggestions from researchers for this research include:
1. A business merger to be carried out by a company should be carried out with careful consideration so that the
decisions to be made are based on the objectives of the company’s own operations because it will determine the
amount of tax to be borne by the company to be smaller or greater.
2. It is expected that the use of recording will later be based on the company’s ability to pay taxes because the use of
book value will result in larger tax payments for subsequent periods and will be sustainable.

International Conference on Sustainability 33
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