Tax amnesty pockets Rp 142t in repatriated assets

Ayomi Amindoni

The Jakarta Post

The directorate general of taxation reports that the government’s flagship tax amnesty program has collected Rp 142 trillion (US$10.92 billion) in repatriated assets as of Oct. 7 and Rp 97.3 trillion in tax revenues since the program was initiated in July.

The tax office says the Rp 97.3 trillion in tax revenues consists of Rp 93.8 trillion in redemptions, Rp 3.06 trillion in tax arrears and preliminary examination evidence payments amounting to Rp 364 billion.

Tax office data also shows that the program has booked Rp 3.78 quadrillion in assets from 401,504 declaration letters (SPHs).

Declared assets from the domestic sphere accounted for the biggest portion of the figure, amounting to Rp 2.66 quadrillion. Meanwhile, the program has booked Rp 976 trillion in declared assets from overseas.

The amount of repatriated assets has reached 78.88 percent of Bank Indonesia’s estimate. The central bank estimates that repatriated assets from the program will reach Rp 180 trillion by the end of this year.

The government hopes that the tax amnesty program can generate Rp 165 trillion in tax revenues. (ebf)