TEMPO.CO, Jakarta - The House of Representatives' (DPR) work committee for the Tax Amnesty draft bill has finished discussing all articles in the bill today, June 27, 2016. An agreement has been reached and committee member from the Golkar Party, Mukhamad Misbakhun, believed that the parliament will pass the bill by Tuesday, June 28, 2016.
"Everyone agrees; the PDIP included. I'm sure by tomorrow [the bill] will be ratified," Misbakhun said here Monday, June 27, 2016.
The committee, Misbakhun said, agreed to a tax amnesty period of nine months, starting from July 2016 "until March 31, 2017."
Once the bill is passed, the Finance Ministry will include the repatriated tax income in the 2016 amended state budget. In the State Budget meeting, the government has set a state revenue target of Rp165 trillion from the taxed repatriated funds.
Misbakhun is confident the target will be achieved even if the tax pardon period is extended.
The work committee also raised the tax rates; for domestic assets statements, the rate is two percent for the first three months, three percent for the second quarter, and five percent for the next three months following the second quarter.
Meanwhile, repatriation of overseas assets will be charged with the same rate. As for overseas assets that are not returned to Indonesia, the pardon fee is four percent for the first three months, six percent for the second quarter, and 10 percent for the next three months following the second quarter.
Earlier today, the DPR's finance committee began a follow-up meeting to discuss the bill agreement. The result of this follow up meeting will be taken to a plenary meeting on Tuesday, June 28, 2016.
PUTRI ADITYOWATI
