The regulation of the Directorate General of Taxation clearly outlines criteria for those who need to apply for tax amnesty, the head of state remarked in Tangerang, Banten, on Tuesday.
Small-scale farmers, fishermen, and pensioners who are not mentioned in the criteria do not need to join the tax amnesty program, the president noted.
Taxation Director General Ken Dwijugiasteadi has issued Regulation No. Per-11/PJ/2016 containing new rules for the further implementation of Law No. 11 of 2016 on Tax Amnesty.
According to the regulation, individuals, such as farmers, fishermen, pensioners, and migrant workers, are not required to apply for tax amnesty.
Officially launched on July 1, the tax amnesty program came into effect from July 18, 2016, and will be applicable until March 31, 2017.
The government is expected to receive funds worth Rp1.18 trillion in the form of tax amnesty redemption until the end of August 2016, Finance Minister Sri Mulyani remarked recently.
The amount of recovered funds and number of asset declaration letters continue to increase every day, although the figures are still nominal, according to the minister.
The government hopes to collect Rp165 trillion under the program.
"We forecast that redemption will increase significantly in September as the rate (of redemption during the first three-month period) is the lowest, both for individual and corporate taxpayers," the minister stated at a hearing by Commission XI on Financial Affairs at the House of Representatives in Jakarta on August 25.
At least Rp4,000 trillion worth of funds stashed overseas are expected to be declared, of which Rp1,000 trillion are estimated to be repatriated and invested in the country.(*)