TEMPO.CO, Jakarta - Finance Minister Bambang Brodjonegoro predicted that the number taxpayers filing for tax amnesty would peak in September when the first period of the tax amnesty implementation will end.
"I predict that the first period will attract the largest number [of tax amnesty applicants] since the tariff is the lowest. But it will peak in September. Most taxpayers pay near the deadline," Bambang said in Central Jakarta on Wednesday, June 29, 2016.
Bambang also predicted that funds deposited overseas would be repatriated in the second period in November and December. According to Bambang, his office will finalize three Finance Minister Regulations that derive from the Tax Amnesty Law.
Earlier on June 28, the House of Representatives passed the Tax Amnesty bill draft that will be in effect from July 1, 2016 to March 31, 2017. In the Revised 2016 State Budget, the government has set to collect Rp 165 trillion (US$12.3 billion) from the tax amnesty program.
The tariffs for taxpayers who declare their assets in the country and repatriate their funds from overseas are set at two percent in the first three-month period, three percent in the second period, and five percent in the third period.
Meanwhile, taxpayers who only declare their assets overseas will be charged with higher tariffs of four percent in the first period, 6 percent in the second period and 10 percent in the third period.
ANGELINA ANJAR SAWITRI
