Tax Amnesty Should Apply Next Year

Nuriman Jayabuana    •    19 November 2015 12:35 WIB
economic growth
Tax Amnesty Should Apply Next Year
Illustration (Photo: Antara Foto/Sigid Kurniawan)

 

 
Metrotvnews.com, Jakarta: The government is in need to accelerate the finalisation of the legal coverage on the tax amnesty incentive with the House of Representatives (DPR). A tax observer from the University of Indonesia, Darussalam mentioned the acceleration of the finalisation on tax amnesty is imminent, as it should be applied by next year.
 
He believed if the police is to be applied as soon as possible, then it may have positive implications towards increasing the obedience of tax subjects. Aside from that, the thousands of trillions 'parked' in foreign nations may be brought home, as it will contribute towards the increase of tax income. Moreover, several countries joined in the G20, including Indonesia, have agreed on the automatisation of information trade (Automatic Exchange of Information) on the inter-nations financial sector.
 
"It is the momentum for the tax amnesty to be applied in 2016, as in 2017, the banking data visibility era will start," he mentioned in Jakarta, Wednesday (11/18/2015). It means that the exchange of data visibility allows the tax authorities of every nation to take as much real tax potential as possible. 

As known, the Minister of Finance Bambang Brodjonegoro sometime ago also explained that in 2017, all wealth of tax subjects may be revealed with the visibility of data exchange in the financial sector. "Then the term is that there will be nowhere to hide in this world. No place to hide," mentioned Bambang. The member of Commission XI of the House, Muhammad Misbakhun also assessed that the regulation related to the tax amnesty is extremely urgent, that it is in need of finalisation. He thinks that tax amnesty is extremely needed to avoid the potential of tax shortfall, which is estimated to be at Rp160 trillion this year. "The tax shortfall created the fiscal risks in the State Budget (APBN), which is in need of mitigation. in this kind of situation, if we do not want to have more debts, we must apply tax amnesty soon," he mentioned.
 

Aside from that, the realisation of tax income so far has only reached at around 63 percent of the target. "I raise my hat if this year's tax income reaches up to 85 percent. my estimation is at around 77 percent," he mentioned.

 

Therefore, the government should take mitigation measures as soon as possible to avoid this year's situation from reoccurring. He thinks that one of the correct risk mitigation measure is the tax amnesty policy. "It should be done by the government, to ensure the situation in 2016 improves," he mentioned.

 

Misbakhun said the constitution has mandated that the state deficit should be no more than three percent. If tax income cannot be applied, the worst scenario of the government is the cut on State Budget, which will have serious implication on the growth.

 

He is assured that the discussion on the legal coverage of the amnesty will enter the final stage, as it will be able to be applied in early 2016. "Now the House is actually very prepared, as we have also done intensive communication. If it is well, the target may be fulfilled," he concluded.

 



(WAH)

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