Accommodating Tax Amnesty Funds, Government Issues Two Government Bonds


The Ministry of Finance (Kemenkeu) will issue two types of Government Securities (SUN) for private placement transactions for the February 2022 period. This letter is intended to accommodate the Voluntary Disclosure Program (PPS) or Tax Amnesty Volume II funds.

The Director of Counseling, Services, and Public Relations of the Directorate General of Taxes (DJP) of the Ministry of Finance (Kemenkeu) Neilmaldrin Noor said that the private placement transaction for the PPS funds will be carried out on Friday, February 25, 2022.

“The transaction will be carried out on Friday, February 25, 2022, with the settlement date on the following Friday, March 4, 2022,” Neil said in a release, Monday (21/2).

He detailed the two series of SUNs that will be offered. First, FR0094 in rupiah with a fixed yield in the range of 5.37 percent-5.62 percent, maturing on January 15, 2028, or 6 years.

Second, the USDFR0003 series in US dollars with fixed yields in the 2.8 percent-3.15 percent range, maturing on January 15, 2032, or 10 years. Both series are paid with semi-annual contracts.

Neil explained that the implementation of private placement transactions was carried out based on the Minister of Finance Regulation Number 51/PMK.08/2019 concerning the Sale of Government Securities in the Domestic Primary Market by Private Placement.

Furthermore, the implementation is also following the Regulation of the Minister of Finance Number 38/PMK.02/2020 concerning the Implementation of State Finance Policies for Handling the Corona Virus Disease 2019 (Covid-19) Pandemic and/or Facing Threats That Endanger the National Economy and/or Stability Financial System and Regulation of the Minister of Finance Number 196/PMK.03/2021 concerning Procedures for Implementation of the Taxpayer Voluntary Disclosure Program.

Under PMK 196/PMK.03/2021, taxpayers who invest net assets in SUN, the following provisions apply:

a. Conducted through Primary Dealers by way of private placement in the primary market with the terms and conditions stipulated by the Government;

b. Investment in Government Securities denominated in USD can only be made by Taxpayers who disclose assets in foreign currencies;

c. Primary Dealer is required to submit a report on investment placement in Government Securities in the primary market in the context of PPS to the Directorate General of Taxes;

d. Taxpayers who invest their net assets in PPS must submit a realization report to the Directorate General of Taxes electronically through the website of the Directorate General of Taxes every year until the end of the investment deadline.