Gov`t Has Only Collected Rp41tn in Repatriated Funds So Far

TEMPO.CO, Jakarta – Finance Ministry’s Directorate General of Tax official Hestu Yoga Saksama said that as of October taxpayers have expressed their commitment to repatriate Rp143 trillion. However, only less than one-third of the figure has been realized.

“The amount of repatriated funds is Rp41 trillion,” he said after a discussion on tax amnesty program held by Tempo at the Indonesian Stock Exchange (IDX) in Jakarta, Thursday, November 17, 2016.

According to Hestu, as many as Rp40 trillion in repatriated funds realized in the program have been channeled to banks and the stock market.

Hestu has pushed for more realization of repatriation. Article 13 of Tax Amnesty Law stipulates that unrealized repatriated funds will be counted as 2016 income tax. “Subject to normal PPh (income tax) at a rate of 30 percent,” he said.

Whereas retribution fee paid will be counted as tax credit. “Tax credit will reduce the amount of tax liability,” Hestu said.

The government is aiming to realize Rp100 trillion in repatriated funds by late December. To achieve the target, Hestu said the Tax DG will monitor it through gateway bank report. Banks will make monthly report on the progress of collected funds to Tax DG.

Hestu said that the realization of repatriation will depend on taxpayers’ willingness to stay true to their commitments. He said that taxpayers have been facing their own problems, such as administrative issues. “Swift repatriation of funds will help the national economy,” he said.