The government approved a request from Indonesian Chamber of Commerce and Industry to loosen the repatriation administrative requirement on the first period of tax amnesty (TA). The relaxation is expected to reach IDR 300 trillion.
Rosan Perkasa Roeslani, the Chairman of Indonesian Chamber of Commerce and Industry, said that President Joko Widodo could not extend the first period of TA that will end by 30 September 2016. But, the taxpayers who wish to repatriate a fund from other countries could report asset and pay the tax fine on the first period, and complete their administrative until end of the second period or by 31 December.
“The repatriation must be declared and the fine must be paid with a rate by 2% in September. The administration is given until December because the repatriation involves the consolidation with the company in other countries,” said Rosan.
BCA Sekuritas is positive that the relaxation will improve the taxpayer participation in TA. It will reach IDR 250-300 trillion and encourage the economic growth by 5.4% in 2017.
Tunjung Nugroho, Head of Sub Inspection Planning Directorate General of Taxation, said that the repatriation must be realized in December, or else the taxpayers will get penalty from Directorate General of Taxation.
Until Friday (23/9), the report of taxpayers in TA reached IDR 1.624 trillion. The details: local asset of IDR 1.093 trillion, global asset of IDR 442 trillion, repatriation of IDR 89.7 trillion. According to Tax Payment Slip, the tax fine reaches IDR 52.3 trillion or by 31.7% from target of IDR 165 trillion. (*)
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