Tax Amnesty expect Rp60t receipts
In the proposed regulation regarding tax amnesty, the Indonesian government is proposing a lower tariff for those that repatriated the capital from overseas. The tariff is 2%, 3% and 5% of net asset reported in 1Q16, 2Q16 and 2H16 respectively. The government expects receipt from tax amnesty to reach Rp60t, which assumes a 3% multiple of inflow of overseas funds of about Rp2,000t. This tax amnesty law is attempting to lure funds from underground economy like illegal trading, illegal logging, illegal fishing and illegal mining. The tax department estimates the state lost about Rp263t per year from this underground economy. The government will submit this proposed law to the Parliament and expects the law to take effect in 1H16.berryjam.ru