Tax amnesty has ruled for almost 2 months since officially being approved by the house of senate last july 2016. The grand design of tax amnesty as elaborated by coordinating minister of economy darmin nasution is to target large taxpayers both personal and corporations particularly those who park their asset overseas.
Though tax amnesty hints for incredible swift run to reach initial targets, finance minister sri mulyani conveyed of still too many large taxpayers who have not reported their assets and tax obligations through tax amnesty scheme. This ex deputy of world bank director stressed that it is evident from the amount of asset reported in the acceptance of tax amnesty till last night friday, september 30th, 2016 total surged in asset is Rp 3,450 trillion out of Rp 4000 trillion targeted.
Sri mulyani said there are still large taxpayers concealing their asset. While the last report of ransom fund collected is Rp 97.1 trillion according to official report site of general directorate of taxation yesterday.
There are around 347,033 taxpayers participate in tax amnesty program and only 14,135 who have taxpayers identification number. They are liable to pay ransom rate 2% for first period up to the end of month of september.
Most of participants are induvidual taxpayers. The total of personal affidavit submitted reaching 279,935 with total of ransom fund RP 77,4 trillion meanwhile the corporation or large taxpayers affidavits are 72,064 with ransom fund Rp 9,54 trillion.
Government is optimistic to reach target and expand thus taxpayer basis for further. Throughout the country tax offices will process taxpayers who want to partake in flagship program of government. It is also claimed that department of taxation has succeeded to trawl more taxpayers though still not performing impressive achievement to withdraw taxpayers from overseas.
In other way, government nevertheless still to extra work to attain their primary target to withdraw assets of indonesian wealthy from abroad. In the beginning the main scheme of tax amnesty is trawl large taxpayers who stash their asset abroad especially in tax heaven countries such as singapore.
So far, there is likely a hint that government has not found effective strategy to withdraw money from singapore for instance. It is reported that total asset of wealthy indonesian in singapore is around Rp 4000 trillion or 50% from singapore banks' asset. Nevertheless, from official report of directorate of taxation, there is still minim surged fund from overseas asset such as singapore.
Singapore on the other hand suitable with report of reuters has made strategy to hinder indonesian rich there to repatriate their asset. Reuter reported that the local authority has listed the tax amnesty participant as criminal aiming to set a jerk on them not to take the indonesian flagship program.
How to topple strategy on tax amnesty blockade
It is responsibility of government and stakeholders like finance department, foreign minister and money others to work on issue of other countries strategy to fail tax amnesty. We are Waiting for Jokowi to Anticipate The Singapore's Cunning Strategy on Tax Amnesty
There are many credits to this phenomenal president to work on economy issue in general term. He has track record of capable to dissolve anxiety of people and his criticizers in some issues before such the slowdown of rupiah, the pessimism of amount targeted of tax amnesty and many others. Means to say that there is much trust and a challenge of indonesia especially to prepare the strategy facing singapore who unconciously applying strategy to block the wealthy indonesian joining tax amnesty. This is quite significant and critical for singapore for it means a lot for their economy survival and possibility of tremendous bank crisis on account of indonesia flagship program (tax amnesty). Even singapore has offered lowered ransom rate of 2% lower from being offered by government.
Jokowi during his socialization of tax amnesty has blatantly cited the list of wealthy indonesian who stash money abroad and encouraging them to repatriate asset and joining the tax amnesty scheme.
This is surely a jerk for those who conceal still their assets. It speaks about longetivity of their business in the state and possible legal enforcement by government upon negligence to join the scheme. Moreover in era of free exchange of information in 2018, all businessmen can not conceal any more their asset from the spy of government.
However, government has to provide the better circumstance of business and finance system than other countries. One of them is regulation on permit of business. Many still complain on regional regulations that are complicated and not following the policy of government to ease the procedure. Read also Regions are Presumably having Barriers to Absorb Tax Amnesty Fund for Real Sector
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