Realization is Still Low, DGT Follows Up Investment Commitment of VDP Participants
Monday, 10 October 2022
JAKARTA. The Directorate General of Taxes (DGT) will follow up on the implementation of the Voluntary Disclosure Program (VDP), especially regarding investment and repatriation commitments, whose deadline has expired on 30 September 2022.
Quoting Bisnis Indonesia Monday (10/10) edition, the value of assets that have been invested in Government Securities (SUN) instruments is IDR 2.6 trillion and State Sharia Securities (SBSN) are IDR 933.63 billion.
Then those placed in SUN instruments in United States (US) Dollars amounted to US$ 36.08 million. Meanwhile, the investment commitment value of the assets disclosed by VDP participants is IDR 22.35 trillion.
Thus, there is a difference between the value of the investment commitments in PPS and the realization of IDR 18.28 trillion, the value of the investment commitments that have not been realized.
Legal Acts
Director of Extension, Services, and Public Relations of the Directorate General of Taxes, Neilmardin Noor, revealed that they would follow up on the implementation of the investment by monitoring and taking legal action.
The first step that will be taken by the DGT for taxpayers who fail to realize their investment commitments is to issue a reprimand letter.
Upon the reprimand letter, VDP participants can respond and pay an additional final Income Tax (PPh) due to investment failure of 3%.
Meanwhile, if they do not provide a response or submit additional final income tax, an audit will be conducted on the underpayment of final income tax by the Tax Office (KPP) and subject to an additional final income tax of 4.5%.
