Friday, November 10, 2017

Issue Number: 531

After the Tax Amnesty: A New Chapter in Tax Compliance and Supervision

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Overview The tax-amnesty program, which was introduced by the government on July 2016 through the issuance of Law No. 11 of 2016 on Tax Amnesty (“Tax-Amnesty Law”)[1] is expected to both boost state revenue and improve tax compliance by the general public. The government was confident that the program would result in approximately IDR 4,000 trillion in overseas asset declarations by non-compliant taxpayers, IDR 1,000 trillion in asset repatriations (which was to be invested in Indonesia) and a total of IDR 165 trillion in ransom fees being paid by tax-amnesty participants....
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