Indonesia managed to collect Rp. 1 trillion from the voluntary disclosure program (PPS) or tax amnesty volume II. As of February 6, it was recorded that there were around Rp. 10.6 trillion income tax deposits (PPh) originating from the disclosure of net assets.
Director-General of Taxes at the Ministry of Finance (Kemenkeu) Suryo Utomo said that to date, PPS participants have increased to 10,227 taxpayers (WP).
Based on the DGT’s official website, Sunday (6/2), the number of taxpayers participating in the tax amnesty volume II has reached 10,670. Of this total, DGT has issued 11,745 certificates.
Meanwhile, the declaration from within the country and repatriation made by the taxpayer is Rp. 8.13 trillion and a foreign declaration of Rp. 798 billion.
Of this total, the funds invested in state securities (SBN) were Rp. 617.14 billion.
Then, there are assets invested in the amount of Rp. 593.51 billion of the total assets. For information, PPS participants have the option to place their investment in SBN or directly to companies engaged in downstream natural resources or new and renewable energy (EBT).
According to the data above, during the last 34 days of the program, the total value of net assets revealed was close to Rp. 10 trillion, or Rp. 9.48 trillion. Most of the assets disclosed are domestic declarations and repatriations of Rp. 8.13 trillion.
From the above amount, the government gets an income tax or PPh of Rp1.01 trillion from the total assets disclosed by PPS participants.
This voluntary disclosure program is regulated in the HPP Law which was passed by the Indonesian Parliament last year. PPS will be held during the first six months of 2022 or until June 2022.
In addition to PPS, there is the Beleid Sapu Jagad Perpajakan which regulates several other tax regulations, such as an increase in the VAT rate to 11 percent, as well as the addition of a new tax bracket for personal income tax.
Through the HPP Law, participants in the second tax amnesty can declare their assets, namely as of December 31, 2020, and as of December 31, 2015. However, this has not been included in the first tax amnesty program. Then, PPS participants can also declare their assets that have not been attached to the last SPT in 2020.
Furthermore, taxpayers must also attach several documents, such as proof of final income tax payment, a detailed list of assets along with information on reported property ownership, a list of debts, a statement on transferring net assets to Indonesia, a statement on investing net assets in the Natural Resources, EBT, and EBT business sectors. SBN.
After that, the director-general of taxation will issue a certificate against the submission of a notification letter on the disclosure of assets by the taxpayer.