347,033 Tax Payers Participate in Tax Amnesty Program

TEMPO.CO, Jakarta – As many as 347,033 tax evaders have participated in the governments tax amnesty program in its period that lasted from July to Sept. 30, 2016, according to Tax Directorate General of the Finance Ministry.

The figure was obtained from a provisional data collected until 6pm local time on Friday, Hestu Yoga Saksama, spokesman of the Tax Directorate General said here, Friday evening.

Of the total number, 14,135 tax payers have obtained their Text Identification Numbers (NPWP) only after the tax amnesty program was carried out.

The number of Asset Declaration Letters (SPH) received from individuals reached 279,935 with total of redemption funds worth Rp77.4 trillion, and from corporation taxpayers reached 72,064 letters, with redemption funds amounting Rp9.54 trillion.

Up to the end of the first period, the majority of tax amnesty applicants were individual tax payers of non-Small and Medium Scale Enterprises (SMEs) with an averaged redemption funds worth Rp331 million.

Total redemption funds worth Rp86.9 trillion were collected until at 6pm local time from the total declared assets reaching Rp4.516 trillion.

Of this, Rp2.444 trillion are domestic declared assets (69.5 percent), Rp937.1 trillion are overseas declared assets (16.6 percent), and repatriated funds Rp135.4 trillion (3.9 percent).

The largest amount of repatriated funds came from Singapore, amounting to Rp77.4 trillion, followed by Cayman Islands Rp16.5 trillion, Hong Kong Rp14 trillion, China Rp3.6 trillion and British Virgin Islands Rp2.3 trillion.

A majority of overseas declared assets were recorded in Singapore, amounting to Rp631.1 trillion, followed by British Virgin Island Rp71.7 trillion, Cayman Islands Rp52.5 trillion, Hong Kong Rp37.9 trillion and Australia Rp32.1 trillion.

The largest part of the declared assets was cash or equal to cash worth Rp1,080.3 trillion, investment and securities worth Rp993.8 trillion, land, buildings and immovable property Rp528.9 trillion, accounts and reserves Rp446.8 trillion, and precious metals, valuables and other movable assets Rp136 trillion.

Personnel of the Tax Directorate General will evaluate the implementation of the tax amnesty program and will improve the services in the next periods.
Sumber : Tempo