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NotAllTaxAmnestyAssetsCanbe
RepatriatedtoIndonesia
FinanceMinisterBambangBrodjonegoroclaimedthathedidnotknow
forsuretheexactamount.

ARIEF KAMALUDIN|KATADATA

Friday, 29 April 2016 | 10:08 WIB

DesySetyowati

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Thegovernmenthasnotyetbeenabletoascertainthetotalvalueofassets,includingfunds,
whichwillberepatriatedasaresultofthetaxamnestypolicy.Infact,FinanceMinister
BambangBrodjonegoroadmi edthatnotalltaxamnestyassetscanberepatriatedto
Indonesia.

"Wehopethatthepresidentwillaskallfundownerstorepatriateasmuchaspossible(of
theirassets)toIndonesia.Butweareawarethatthatmaynotbe100percent,"hesaidin
Jakarta,Wednesday(27/4)a ernoon.Nevertheless,Bambangisoptimisticthattheamount
ofrepatriatedfundsresultingfromthetaxamnestypolicywillbesu cienttohelpdrive
thenationaleconomy.

AccordingtoBambang,assetsbelongingtoIndonesiancitizensabroadareputinvarious
formssuchasproperties,companies,ortimedeposits.Althoughhehadmentionedthatthe
potentialrepatriatedfundsfromtaxamnestyexceedthecountrysGDPofUS$11,450
trillion,heclaimedthathedidnotknowforsuretheexactamount."We'llsee.Wecant
guess,"hesaid.
(Read:PresidentPreparesRegulationonTaxDeclarationtoAnticipateDelayedRatication
ofTaxAmnestyBill)
Therehasbeennosingle,uniformcalculationofthepotentialrepatriatedfundsfromthe
taxamnesty.DuringahearingwiththeHousesFinanceCommissionlastweek,the
IndonesianEmployersAssociation(Apindo)estimatedthatthesefundscouldamountto
IDR1,000trillion.Thisestimateisbasedonasurveyof10,000entrepreneurs.
Meanwhile,accordingtoastudybyBankIndonesia(BI),thepotentialrepatriatedfunds
amounttojustIDR560trillion.Basedonaredemptionrateofone,twoandthreepercentof
repatriatedassetsandtwo,fourandsixpercentofreportedassets,itstaxrevenuepotential
couldbeIDR45.7trillionthisyear.
(Read:GovernmentProposesTaxAmnestyFundsinForeignCurrencyBonds)
However,economistsandtaxexpertsbelievethattheactualamountrepatriatedwillbeless
than20percentofthepotentialtaxamnestyassets.Theybasetheircalculationona
comparisonoftheactualratiosincountriesthathaveadoptedsimilarpolicies.Accordingto
theExecutiveDirectoroftheCenterforIndonesianTaxationAnalysis(CITA)Justin
Prastowo,theimplementationoftaxamnestypolicyinItalyonlybroughthome80billion
oraround20percent."IftheFinanceMinistersaidthatthereareIDR11,000trillion(oftax
amnestyassets),thismeansthatheshouldbeabletorepatriate20percentofthat,orIDR
2,200trillion,"hesaid.
(Read:KPK,Police,A orneyGeneralOce,PPATKSupportsTaxAmnestyBill)

Asreportedearlier,theHousesFinanceCommissioniscurrentlydeliberatingtheTax
AmnestyBill.Variousstakeholdershavebeeninvitedtopresenttheirviewsonthebill,
includingbusinessplayers,legalexperts, nancialauthoritiessuchasBankIndonesiaand
theFinancialServicesAuthority,andlawenforcementagenciessuchasthepolice,A orney
GeneralsO ce,theCorruptionEradicationCommission(KPK),andtheFinancial
TransactionAnalysisReportingCentre(PPATK).CommissionXIalsoinvitedtheIndonesian
StockExchangetodiscusscapitalmarketinvestmentinstrumentsthatmightaccommodate
therepatriatedfunds.

(Read:Government-proposedTaxAmnestyRateConsideredTooLow)

A ertwoweeksofhearings,theHousesCommissionXI nallyenteredtheWorking
Meetingphasewiththegovernmentstartingyesterday.Thegovernmenthopesthatthe
deliberationofTaxAmnestyBillcanbeconcludedduringthecurrentsession,whichwill
endonFriday(29/4).

Tags:

Tax

TaxAmnesty

repatriation

FinanceMiniter

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