Obligation To Submit A Report On Investment Transfer And Realization And/Or Additional Asset Placement

Obligation to Submit a Report on Investment Transfer and Realization and/or Additional Asset Placement

The Directorate General of Taxation plans to revise Regulation of the Director General of Taxation No. PER-03/PJ/2017 regarding Procedures for the Reporting and Suprvision of Additional Assets in the Context of Tax Amnesty which provides for report on tax amnesty asset placement.

Micro, small, and medium enterprise (MSME) taxpayers and/or taxpayers the additional assets of which are located overseas and are not transferred into the territory of the Republic of Indonesia are not obligated to submit a report on additional asset investment transfer and realization and/or additional asset placement. Nevertheless, the assets still need to be reported in a tax return.

Based on data, out of 972 thousands tax amnesty participants, 431 thousands among them fall into the category of MSME thus they will be affected by the revision which according to plan, will be issued in the near future.

 

 

 

Source https://legalcentric.com/content/view/131280

Law Number 9 Year 2017
Law Number 9 Year 2017

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