"The Tax amnesty program will end on March 31. We therefore, call on heads of district administrations and business people to make use of the remaining days to report their assets as there would be no such opportunity," head of the regional DJP for West Sumatra and Jambi Aim Nursalim Saleh said here on Tuesday.
So far most of the participant of tax amnesty program in the two regions have been small and medium enterprises and corporations, he said.
The program has been held in three phases starting from July to September with tax penalty of 2 percent and from October to December 2016 with penalty rate of 3 percent and from January to March in 2017 with penalty rate of 5 percent.
Aim warned after the deadline of the program, the government would take legal action against those having assets not properly reported.
He said until March 21, 2017 tax penalty from the program totaled Rp677.08 billion from the two provi8nces.
In the third period from January to March 2017, the tax penalty reached only Rp31.89 billion with assets declaration statements 12,349 pieces, he said.
Altogether, assets parked abroad declared by tax payers in the two provinces reached Rp5.128 trillion and assets declared in the country reached Rp29.621 trillion
Earlier, West Sumatra Governor Irwan Prayitno tax amnesty program would serve an additional source of income from the region to finance regional development.
In 2018, the country will adopt the Automatic Exchange of Information (AEOI) under which all banks accounts in the world are accessible to investigations for taxable assets, that there would be no way to hide assets in foreign banks. (*)
Editor: Heru Purwanto
Copyright © ANTARA 2017
