Participants of the tax amnesty program are required to report declared or repatriated assets placement. However the government plans to change the rules.
Expert Staff of the Minister of Finance for Tax Compliance Suryo Utomo explains the changes that will be made first is tax amnesty participants who are categorized in UMKM business are not required to report their assets placement. They simply need to state in SPT the assets that has been reported during tax amnesty program.
“UMKM are not required to submit Amnesty’s assets placement report but still be needing to report those in annual SPT”. Attachment for assets placement is available in SPT. For those who participated in tax amnesty program are required to attach assets placement report”, he added on Monday (5/3/2018) at DGT (Directorate General of Taxes) Headquarter.
In addition, for the participants who only declare their assets abroad are not required to report the placement of their assets. This change will be included in the Revision of Regulation Director General of Taxation No. PER-03 / PJ / 2017. Further, tax amnesty participants who are required to report placement of their assets are those who repatriate their assets from outside territory into within the territory of NKRI. Moreover, it required also for participants who had declared their assets within the territory of NKRI.
“The objective is we made sure that money declared are already within the territory of NKRI, no longer abroad, to be utilized in the country initially,” he said.
Suryo said there were no sanctions for tax amnesty participants who did not report the placement of their assets. The will send rebuke letter, if there is no clarification within some period, the DGT will perform the audit.