The tax reform and new taxation law will support our fiscal policy consolidation
Jakarta (ANTARA) - Voluntary disclosure program (PPS) is the government's measure to support the creation of fiscal consolidation in 2023 to return the budget deficit to the level of three percent, Finance Minister Sri Mulyani Indrawati stated.

This can occur since the voluntary disclosure program is one of the models of tax reform conducted by the government in accordance with the harmonized taxation law, the minister remarked during the Mandiri Investment Forum 2022 held here on Wednesday.

"The tax reform and new taxation law will support our fiscal policy consolidation," Indrawati noted.

The voluntary disclosure program received a warm welcome from the public as was apparent from the rising number of taxpayers benefiting from the second edition of tax amnesty, she pointed out.

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According to the official website of the Taxation Directorate General, a total of 11,479 taxpayers have joined the voluntary disclosure program as of Wednesday (Feb 9, 2022), with the disclosed net assets totalling Rp11.54 trillion.

The figure comprised Rp9.91 trillion from domestic declaration and repatriation, Rp812.3 billion from investment, and Rp817.86 billion from overseas declaration, so the government received income tax payments of Rp1.22 trillion.

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"Ï think we continue to communicate in this case to attract more Indonesian taxpayers. Of course, we also consider the revenues from this compliance program," she remarked.

The voluntary disclosure program offers opportunities to taxpayers to report or disclose voluntarily their unsettled taxation obligation through income tax payments based on asset disclosure.

Taxpayers that can benefit from the voluntary disclosure program between January 1 and June 30, 2022, are those joining tax amnesty and personal taxpayers.

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Translator: Astrid Faidlatul H, Suharto
Editor: Fardah Assegaf
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