JAKARTA. The Directorate General of Taxes (DGT) is currently preparing a special application, to support the implementation of the Voluntary Disclosure Program (VDP) or "Tax Amnesty Volume II".
Citing bisnis.com, the application can make it easier for taxpayers who will disclose property through the VDP program, which runs from 1 January to 30 June 2022.
The application is planned to be launched before January. However, before actually being used, this VDP application still has to go through the user acceptance test process.
In addition to preparing applications, DGT is also preparing other supporting tools, such as derivative regulations which are still in the finalization stage.
It is planned that there will be 43 implementing regulations for the Harmonization of Tax Regulations (HPP) as the legal umbrella for VDP.
In addition to preparing supporting devices, tax authorities are also busy socializing VDP to various parties, especially business actors and business associations.
|Details||Policy I||Policy II|
|Subject||Individual taxpayers and corporate taxpayers participated in the tax amnesty||Individual taxpayers|
|Asset base||Assets as of 31 December 2015 which has not been disclosed in the tax amnesty||Asset acquired in 2016-2020 which has not been reported in 2020 tax return|
|Final Income Tax Rate||- 11% for asset declaration
- 8% for repatriated foreign assets and domestic assets
- 6% for repatriated foreign assets and domestic assets which is invested in govt. securities/downstream/renewable energy
|- 18% for asset declaration
- 14% for repatriated foreign assets and domestic assets
- 12% for repatriated foreign assets and domestic assets which are invested in govt. securities/downstream/renewable energy
For information, The VDP consists of two types of policies. The first VDP policy is for individual and corporate taxpayers participating in the tax amnesty volume I (2016-2017) who have not or under-disclosed their net assets until the 2015 fiscal year in a declaration letter.
Meanwhile, the second VDP policy is only intended for individual taxpayers—not corporates—who have not reported 2016-2020 acquired assets in the Tax Return.