7/26/2016

The Progress of Tax Amnesty for 2 Weeks: 989 Billion Rupiahs

The Progress of Tax Amnesty for 2 Weeks: 989 Billion RupiahsAfter almost 2 weeks since Juli 18th  and will end in March, 31th,2016, tax amnesty progress has acquired around Rp 989 Billion. 
At 10 am  this morning, there have been about USD 989 billion in assets that have been declared by 82 affidavit, "said a spokesman for the Ministry of Finance (MoF), Luky Alfirman, at the Ministry of Finance (MoF), Tuesday (07/26/2016).

He explained that the declaration of property situated abroad as much as Rp 252 billion. As for the treasure in the country as much as Rp 735 billion.

The ransom that has reached Rp 23.7 billion. For information, the tax amnesty redemption rates vary according to the category followed by the taxpayer.

For taxpayers who follow a repatriation program or declaration of wealth in the country, the applicable rates are 2% (Period I began July 1 to September 30, 2016), 3% (Period II began October 1 to December 31, 2016), 5% ( period III began January 1 to March 31 2017).

For taxpayers who take the program declaration of assets abroad, the applicable rates are 4% (Period I began July 1 to September 30, 2016), 6% (Period II began October 1 to December 31, 2016), 10% (Period III began January 1 to March 31 2017).

For Taxpayers SMEs Declaration possessions up to Rp 10 billion applicable redemption rate of 0.5%. As for SMEs declaration taxpayer treasure of more than Rp 10 billion, 2% redemption rates apply.
Meanwhile the government targets for 165 trillion rupiahs. Government itself foresees the high expectation on tax amnesty to cover up the deficit of national budget in short term while it will bring promising investment prospective for long term. The government seeks to ensure the tax amnesty ruling out including from any endeavor to fail the program. 

The lately, singapore was recognized by the country as one who attempt to hinder the repatriation of indonesian investor's money there through their policy of 4% compensation to the government. The singapore on the otherhand claimed not to intend to ruin the tax amnesty program.  

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