PPS Update March 28: 29,238 Taxpayers Misrepresented Assets, Income Tax Of IDR 4.5 Trillion Entering The State Treasury

Illustration (Photo: Doc. Antara)

JAKARTA – The Voluntary Disclosure Program (PPS) is still ongoing as part of the implementation of the Tax Regulations Harmonization Law (HPP) which was rolled out by the government this year.

As of March 28, 2022 at 08.00 WIB, the Directorate General of Taxes (DGT) of the Ministry of Finance (Kemenkeu) noted that there were 29,238 taxpayers (WP) who had disclosed their assets with 33,283 certificates.

Of them, Rp. 44.6 trillion of assets were declared, with details of Rp. 38.8 trillion in domestic declarations and repatriation funds, Rp. 2.8 trillion in the form of SBN investments, and Rp. 2.9 trillion in declarations abroad.

Meanwhile, the net value that goes directly to the state treasury in the form of income tax payments or PPh is IDR 4.5 trillion.

For information, the PPS agenda this time is often called the tax amnesty volume II or tax amnesty volume II, which was previously held in 2016-2017.

Through the PPS program, taxpayers are given the opportunity until June 30 to declare their undisclosed assets to the government at a lower levy rate, which is between 6 percent and 11 percent.

The government itself has prepared tax sanctions of up to 200 percent for taxpayers who are considered absent and do not report taxable assets until the specified time limit.

Meanwhile, in the 2022 APBN, it is targeted that tax revenues can reach Rp. 1,265 trillion. For information, last year's tax revenue managed to penetrate the 103.9 percent target to Rp1,277.5 trillion from the 2021 APBN ceiling of Rp1,229.6 trillion.