TEMPO.CO, Jakarta - Yustinus Prastowi, the executive director of the Center for Indonesia Taxation Analysis (CITA), said that the tax amnesty program will only generate Rp145 trillion in repatriated assets until the end of its effective period, a rather stagnant amount since the beginning of the program in September. “Repatriated [assets] will no longer increase since the rate is higher now,” Yustinus told Tempo on Sunday, March 19, 2017.
As of October 2016 or one week after the end of the first period of the tax amnesty program, the assets repatriated in the program stood at Rp141 trillion. The period offers the lowest tariff of 2 percent, whereas the tariff in the current period is 5 percent.
However, Yustinus said that repatriated funds will not have a significant impact on tax revenue in the first quarter this year. The projected proceeds of the tax amnesty program were only included in the calculation of 2016 state budget.
The Directorate General of Tax (Tax DG) noted that the assets reported based on the asset declaration letter (SPH) stand at Rp4,539 trillion. The SPH consist of declared domestic assets at Rp3,372 trillion, declared overseas assets at Rp1,021 trillion, and repatriated assets at Rp145 trillion.
The realization of the tax amnesty program based on the tax returns (SPP) stands at Rp155 trillion comprising of Rp107 trillion in retribution fees, Rp7.23 trillion in tax arrears payments and Rp866 billion in payment of the preliminary tax examination.
Yustinus predicted that the retribution fees collected in the tax amnesty program to reach Rp125 trillion maximum by March 31, 2017.
Tax DG spokesman Hestu Yoga Saksama said that his office will continue to attract new taxpayers to join the tax amnesty program before the end of its effective period.
PUTRI ADITYOWATI| GHOIDA RAHMAH