{"id":241116,"date":"2022-03-02T11:47:19","date_gmt":"2022-03-02T04:47:19","guid":{"rendered":"https:\/\/setkab.go.id\/?p=241116"},"modified":"2022-03-02T15:50:05","modified_gmt":"2022-03-02T08:50:05","slug":"govt-offers-three-options-of-taxes-for-voluntary-disclosure-program","status":"publish","type":"post","link":"https:\/\/setkab.go.id\/en\/govt-offers-three-options-of-taxes-for-voluntary-disclosure-program\/","title":{"rendered":"Gov\u2019t Offers Three Options of Taxes for Voluntary Disclosure Program"},"content":{"rendered":"
\"\"

Photo by: PR of Ministry of Finance<\/p><\/div>\n

The Government has pushed for income optimization through a taxation reform stipulated in Law on Harmonization of Tax Regulations (HPP), which is aimed at creating a healthier, fairer, and more sustainable taxation system.<\/p>\n

To that end, the law regulates a voluntary disclosure program (PPS) that is in place from January 1 to June 30, 2022.<\/p>\n

Through Regulation of Minister of Finance Number 196\/PMK.03\/2021 on Procedure for Taxpayer Voluntary Disclosure Program, the Government regulates the technical procedures for net asset disclosure (declaration), transfer of net assets to a region of the Unitary State of the Republic of Indonesia (repatriation), and investment of assets in state securities or businesses in natural resource processing sector or renewable energy.<\/p>\n

\u201cThe Government will offer special state securities for the voluntary disclosure program routinely, taking turns with government bonds and state sharia securities in accordance with the (tentative) issuance schedule on the landing page of https:\/\/www.djppr.kemenkeu.go.id\/pps\/<\/a>,\u201d Ministry of Finance\u2019s Director General of Budget Financing and Risk Management Luky Alfirman said as quoted from the official website of Ministry of Finance, Wednesday (03\/02).<\/p>\n

In PPS Policy I, final income tax of 11 percent is imposed for declaration of non-repatriated possession of assets abroad; 8 percent for declaration of repatriated possession of assets abroad and declaration of domestic assets; 6 percent for declaration of repatriated possession of assets abroad and declaration of domestic assets invested in state securities or businesses in natural resource processing or renewable energy sectors.<\/p>\n

In Policy II, final income tax of 18 percent is imposed for declaration of non-repatriated possession of assets abroad, 14 percent for declaration of repatriated possession of assets abroad and possession of domestic assets; and 12 percent for declaration of repatriated possession of assets abroad and possession of domestic assets invested in state securities or businesses in natural resource processing or renewable energy sectors.<\/p>\n

Taxpayers who have participated in the tax amnesty program and are participating in the PPS truthfully will be spared of the sanction in Article 18 Paragraph (3) of Law on Tax Amnesty, namely administration sanction of 200-percent increase in income tax that were not paid or insufficiently paid.<\/p>\n

Individual taxpayers who participate in this program will not be issued tax assessments of tax obligations for 2016-2020 tax years.<\/p>\n

The data \/ information submitted by taxpayers in this program, administered by the Ministry of Finance or other parties related to HPP Law, may not be used as the basis for investigation and \/ or criminal prosecution.<\/p>\n

\u201cWith this design, the discipline of taxpayers and in taxation bases will improve so that tax revenue can be optimized. It is expected to positively contribute to fiscal consolidation measures,\u201d Ministry of Finance\u2019s Head of Fiscal Policy Agency Febrio Kacaribu said.<\/p>\n

In exchanging information on international taxation data, other countries have expressed commitment to participating in the international agreement on taxation through the Automatic Exchange of Financial Account Information).<\/p>\n

Furthermore, Law Number 9 of 2017 has also provided a legal umbrella for access to financial information for tax interests and these measures are expected to improve taxpayers\u2019 discipline.<\/p>\n

\u201cTherefore, the PPS should be the best change provided by the Government and it should be used by taxpayers as best as they can,\u201d Febrio said. (PR of Ministry of Finance\/UN)<\/strong><\/p>\n

The official website of Ministry of Finance can be accessed through this link<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Government has pushed for income optimization through a taxation reform stipulated in Law on Harmonization of Tax Regulations (HPP), which is aimed at creating a healthier, fairer, and more sustainable taxation system. To that end, the law regulates a voluntary disclosure program (PPS) that is in place from January 1 to June 30, 2022. […]<\/p>\n","protected":false},"author":43,"featured_media":241117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[77],"tags":[],"class_list":["post-241116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nGov\u2019t Offers Three Options of Taxes for Voluntary Disclosure Program - Sekretariat Kabinet Republik Indonesia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/setkab.go.id\/en\/govt-offers-three-options-of-taxes-for-voluntary-disclosure-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t Offers Three Options of Taxes for Voluntary Disclosure Program - Sekretariat Kabinet Republik Indonesia\" \/>\n<meta property=\"og:description\" content=\"The Government has pushed for income optimization through a taxation reform stipulated in Law on Harmonization of Tax Regulations (HPP), which is aimed at creating a healthier, fairer, and more sustainable taxation system. 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