Cruise Ships, Cellphones To Laptops Must Be Informed When Reporting Personal Tax Returns

Illustration. (Photo: Unsplash)

JAKARTA - The period of annual tax reporting via Tax Return (SPT) for individual participants is valid until 31 March. At this stage, all non-business taxpayers (WP) are required to report all assets owned to the state.

Director of Counseling, Services, and Public Relations at the Directorate General of Taxes Neilmaldrin said that this annual routine was intended to ensure continuity of wealth information which was reported annually by Taxpayers.

"All types of assets must be stated in the SPT, there is no minimum price limit," he said in a statement Monday, March 8.

According to Article 3 of the Law on General Provisions and Tax Procedures (KUP), it is revealed that the SPT must be written completely and correctly.

So what needs to be reported?

Based on the Instructions for Completing the Annual Income Tax Return Form, it is stated that there are at least six assets that must be informed in the SPT.

First, cash and cash equivalents, which refer to ownership of savings, time deposits, current accounts, and others. Two, receivables that have the potential to increase wealth. Three, controlled investment instruments such as bonds, stocks, bonds, derivative instruments, and other types of investment.

Fourth, is a vehicle that is owned. Five, other movable assets such as precious metals, gemstones, yachts, furniture, electronic equipment (PCs, laptops, cellphones), and others.

The sixth is the immovable property that is identical to property assets such as houses, land, apartments, shop houses, and so on.