Tax Amnesty Update: Tens Of Thousands Of Taxpayers Misrepresented Assets, State Pockets IDR 7 Trillion Of Income

JAKARTA - The government through the Directorate General of Taxes at the Ministry of Finance (Kemenkeu) revealed that as of Sunday, April 24, the Voluntary Disclosure Program (PPS) had been attended by 39,527 taxpayers (WP) with a total of 45,413 certificates.

The echelon I ranks of the Ministry of Finance also mentioned that from tens of thousands of taxpayers who gave recognition, it was revealed that the net asset value was Rp. 70.4 trillion.

This amount consists of IDR 60.5 trillion of property declarations in the country and repatriation funds, IDR 4.5 trillion channeled to investment instruments, and IDR 5.2 trillion of declarations of assets abroad.

Meanwhile, the net value that goes into the management of the state treasury is IDR 7.1 trillion in the form of income tax levies or PPh.

As previously reported, the Voluntary Disclosure Program is often referred to as tax amnesty volume II after the government previously implemented the same program in 2016-2017.

Meanwhile, PPS is part of the implementation of the Law on the Harmonization of Tax Regulations (HPP), which will be rolled out from January 1, 2022 to June 30, 2022.

VOI noted that the realization of tax revenue at the end of the first quarter of 2022 grew 40.4 percent year-on-year (yoy) to Rp322.5 trillion from the previous Rp228.1 trillion. Meanwhile, for the entire year, the government has set tax revenues to reach Rp1,265 trillion.