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Minister: Another chance to declare hidden wealth

Friday, 17 November 2017 | Rizki Caturini

KONTAN.CO.ID - JAKARTA. Finance Minister Sri Mulyani Indrawati has issued a revised regulation to give another change for taxpayers who did not avail of the tax amnesty or have not listed assets in their annual tax return to (SPT) to immediately report their wealth.

“Under the revised regulation, we are giving another change to taxpayers to honestly report their wealth, either in a statement or in an SPT,” said Sri Mulyani at a press conference in Jakarta on Friday as reported by kontan.co.id.

The regulation was originally intended to facilitate tax amnesty participants to change register property held in name of someone else in their own names without paying tax. However, the revised version also pardons those who have not reported their wealth.

Tax officials previously said any undeclared wealth owned by people who did not avail of the tax amnesty would be considered additional income and they would be required to pay tax plus fines.

“The Tax Amnesty Law has no expiry date and therefore any taxpayers found to not have declared their wealth will be punished,” Sri Mulyani warned.

She explained that one of the reasons for the new regulation was that some people who had availed of the tax amnesty had not declared all of their wealth.  

Reporter: Rizki Caturini
Editor: Rizki Caturini
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