Sri Mulyani Makes Indonesian Conglomerate Relieve: No Criminal Prosecutions In The Voluntary Asset Disclosure Program

JAKARTA - Minister of Finance (Menkeu) Sri Mulyani ensured that taxpayers participating in the Voluntary Disclosure Program (PPS) on assets owned, mainly overseas, would not be subject to any criminal charges.

According to the Minister of Finance, this is intended to convince taxpayers as well as to inspire conglomerates, aka RI's rich people, to contribute to the country.

"Data or information originating from a letter of disclosure of assets cannot be used as a basis for investigation, investigation, and or criminal prosecution of taxpayers," he said while speaking at the Kick Off Forum for the Socialization of the Harmonization of Tax Regulations Act broadcast via virtual channels, Friday, November 19. .

For information, the Voluntary Disclosure Program is a tax relief facility provided by the government to taxpayers who have not reported their assets in the SPT within a certain period.

PPS itself consists of two schemes. First, disclosure of assets both repatriated abroad and domestic assets for the period before 2015 with tariff rates ranging from 6 percent to 11 percent.

Then, the second PPS scheme is for assets that have not been disclosed by taxpayers with an asset acquisition period of 2016 to 2020 at a rate of 12 percent to 18 percent.

Meanwhile, the Voluntary Disclosure Program will take effect from January 1 to June 30, 2021. Meanwhile, for those who have not participated in this program, it is stated that there will be sanctions of up to 200 percent from the Ministry of Finance.