STRATEGIC ASSESSMENT. Jakarta. More than Rp 594 trillion (almost US$40 billion) in hidden assets has surfaced during the second tax amnesty, or so-called voluntary disclosure program, and will now be subject to Indonesia taxes. The six-month program that ended on Thursday has yielded more than Rp 61 trillion extra revenue from the newly declared assets.
Taxpayers participating in the program have been given until Sept. 30, 2023 to finish repatriating their assets. They must also invest them in government bonds or selected domestic projects, such as renewables and commodity processing industries, for a minimum of five years.
Meanwhile in Jakarta, national economic pundit, Otjih S said tax amnesty program has used by the government to lift state revenue from tax, because state owned budget need fresh money to speed up national economic recovery from the negative impact of Covid-19 pandemic.
“However and theoritically, the government must need a lot of fresh money either for recovering covid-19 pandemic impact or facing the next global economic uncertainty,” said Otjih S and reiterated that the moral fraud of tax amnesty program must be eliminated in order to the main goal of tax amnesty can be reached.
If the main goal of tax amnesty can not be reached, it is normal if the government will stop this program or no more tax amnesty, Otjih further explained that actually tax amnesty, tax holiday, debureaucratization which are doing by the government to attract foreign investor come and invest in Indonesia especially in the new capital city of Indonesia in Penajam Paser Utara which are several infrastructure development will be done in this month. (Red)
