Jakarta, Sept 23 (Antara) - As the first phase of the tax amnesty ends on September 30 next week, taxpayers seem to be expecting that it will be extended.
Although the government's tax amnesty program will continue for nine months, from July 15, 2016 to March 31 2017, yet the nine month period is divided into three phases, each with a three-month period.
In the first period, taxpayers joining the tax amnesty program will pay the lowest asset repatriation and declaration fees, compared with the tariffs set for the following two phases.
The declaration tariff for assets at home and overseas has been set, respectively, at two percent and four percent for the July-September period; three percent and six percent for the October-December period; and five percent and 10 percent for the January-March 2017 period.
Similarly, the repatriation tariff has been set at two percent for the July-September period, three percent for October-December and five percent for the January-March 2017 period.
Taxpayers taking part in the program have asked for an extension of the first phase. There is a petition posted on the Change.org website by Yustinus Prastowo, which reads: " President Jokowi, Please Extend Period I of the Tax Amnesty! "
The petition was signed by 237 petitioners and was to be sent to President Joko Widodo, asking for the extension of the first phase of the tax amnesty program, which will end on September 30.
Chief Executive of the Indonesian Stock Exchange (BEI) Tito Sulistio said he would agree to the first period of the tax amnesty program being extended. "Unfortunately, the law rules out extensions. However, if the government could issue regulations in lieu of law (Perppu), why not? I am in favor of an extension," Tito said, on the sidelines of a seminar on Tax Amnesty in Jakarta on Wednesday.
However, Deputy Chairman of the House Budgetary Body (Banggar) Said Abdullah has asked the government to ignore the petition. Based upon the law, the Amnesty period cannot be extended, he argued.
What could be done now is to encourage businessmen --who sent their wealth overseas-- to declare the amount of their assets.
The government hopes that some Rp4,000 trillion worth of funds deposited abroad would be declared, of which some Rp1,000 trillion would be repatriated and invested in the country. It hopes to earn Rp165 trillion from the tax amnesty program in the form of asset repatriation and declaration fees.
The Directorate General of Taxation is ready to manage the repatriated funds, both in terms of technology and human resources. According to Said, the extension of the first phase could create unpopular sentiment towards the government.
"If it goes with the extension, the government could be faced by the House of Representatives (DPR). I also hopes that the President would not issue a government regulation in lieu of law (Perppu), as was called for by the petitioner," Said asserted.
Meanwhile, Finance Minister Sri Mulyani Indrawati said the first phase of the tax amnesty program would be based on the law, so that there would be no extension for Period I, which offers lower tariffs.
"Based on the law, there is a specific period and we should look into the law and should maintain this momentum," the finance minister said.
She was reluctant to comment on the possibility of extending the first phase of the tax amnesty program. The minister said that that the government will continue to focus on securing redemption money from the program, based on its target to collect Rp165 trillion.
"Therefore, we will continue to monitor the program and implement it, based on the law," the finance minister stressed.
In the meantime, taxpayers still hope that the government would extend the first phase of the tax amnesty program by issuing a perppu.
Chief Executive of the BEI, Tito Sulistio, said he would agree if the first period of the tax amnesty program to end September 30, is extended as the tax payers have shown high enthusiasm with the program. It is regrettable if the program could not be fully carried out only because it was not properly prepared.
Executive Director of the Center for Indonesia Taxation Analysis (CITA) Yustinus Prastowo said he already petitioned for the extension of the first period of the tax amnesty program.
"I have submitted the petition to ask the president for the extension," Yustinus said.
In the first period to end in September 30, the tariff for fund repatriation is only 2 percent , but after the deadline the tariff would be raised. The enthusiasm is high among the tax payers but the time is too short as many of them need time to understand what the program is all about.
Many tax payers are aware of the benefit from the program for them and for the nation when it is almost too late. Three months are given for the first period , but two months of which were spent for preparing regulation .
"Many of those planning to take part in the first period , waited until the regulation was issued, and now it is only nine days left. They might have to take part in the second period of the program, when they have to a much higher tariff," Prastowo said.
Director of Socialization, Service and Human Relations of the Taxation Directorate General Hestu Yoga Saksama said the law on tax amnesty has given ample room and good opportunity. "But it is up to the president to decide. Let us just see," Hestu Yoga said.
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(A014/INE)
(T.A014/A/BESSR/F. Assegaf) 23-09-2016 11:28:2 |
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