JAKARTA. The government offers a tax amnesty program to taxpayers who have not disclosed their assets in the 2019 Annual Tax Return (SPT).
Quoting Bisnis Indonesia Friday (28/5), the tax amnesty vol. 2 program targets two groups of taxpayers, as stated in the bill on the Taxation General Provisions and Procedures Law (RUU KUP).
First, taxpayers who wish to disclose assets with an acquisition year before 31 December 2015 and have not been disclosed in the tax amnesty program volume one.
Second, taxpayers who want to disclose assets acquired between 2016-2019 and have never reported it in the Annual Income Tax Return.
Acquisition of Assets Before 2015
For assets acquired before the end of 2015, but have not been disclosed in the Annual Tax Return and the previous tax amnesty program, the government will abolish administrative sanctions as long as they pay a final Income Tax of 15% of the value of their assets.
If the asset is then stored in the instrument set by the government, then the final income tax rate that must be redeemed is smaller, which is 12.5% of the value of the asset.
Read: Regulating Tax Amnesty Vol. II Up to VAT Rates, Jokowi Proposes Revision of KUP Law.
Acquisition of Assets After-Tax Amnesty Vol. I
Meanwhile, the final income tax rate for the disclosure of assets obtained between 2016-2019 is set at 30% of the value of the assets.
For taxpayers who apparently participate in the first edition of the tax amnesty program, besides having to pay final income tax for the disclosure of assets, they also have to pay interest penalties per month.
However, if the assets are also placed in instruments determined by the government, the final income tax rate that must be paid is even lower, which is only 20%.
Criminal Sanctions Change to Administrative Sanctions
According to Finance Minister Sri Mulyani, as reported by kontan.co.id, the policy of tax amnesty volume 2 aims to improve tax compliance without causing a stir over a sense of injustice.
Because, through this program, the government will offer taxpayers the option to resolve their tax problems through criminal or administrative mechanisms.