Three Weeks Left Of The Rich Entrepreneurs Tax Repentance Program, Come Join Tax Amnesty Now!

Illustration (Photo: Doc. Antara)

JAKARTA – The government through the Ministry of Finance (Kemenkeu) has so far determined that the Voluntary Disclosure Program (PPS) will only be valid until 30 June after it officially launched on 1 January.

This means that taxpayers (WP) who still have assets that have not been declared will only have the opportunity three weeks from now to get a lower rate levy facility than normal conditions.

Citing the official website of the Directorate General of Taxes (DJP) of the Ministry of Finance, it is stated that PPS participants will only be subject to an income tax rate (PPh) of 8 percent to 11 percent for assets that have not been reported with the year of acquisition before December 2015.

Then, the rate is 12 percent to 18 percent of assets obtained from 2016-2020 but have not been reported in the 2020 Annual Tax Return.

The amount of the levy is much higher than the normal income tax rate, which can reach around 30 percent.

The government itself is said to have 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, the realization of the program, which is often called the tax amnesty volume II, has been attended by 68,762 taxpayers until June 9, 2022. From them, 81,180 certificates have been obtained with a declared asset value of more than Rp. 144.2 trillion.

In detail, the value of assets disclosed from within the country and repatriated funds reached Rp125.5 trillion. Then, for the disclosure of assets abroad amounting to Rp. 11.1 trillion.

Then, the revealed wealth that goes into investment instruments provided by the government is IDR 7.4 trillion.

Meanwhile, the value of net state revenue from income tax (PPh) levies is said to reach Rp. 14.4 trillion.