DGT Extends Voluntary Disclosure Program Reporting Deadline

Jakarta, Ideatax -- The Directorate General of Taxes (DGT) has extended the deadline for submitting reports on the realization of repatriation and/or investment under the Voluntary Financial Information Disclosure Program. This policy was conveyed through press release number SP-12/ 2023 dated March 31, 2023.

 

The realization of repatriation and/or investment of the voluntary disclosure program for the first period will be reported no later than 31 May 2023. In fact, the Minister of Finance Regulation (PMK) Number 196 of 2021 stipulates that the report on the realization of repatriation and/or investment of the voluntary disclosure program must be reported by taxpayers no later than before submitting the Annual Tax Return.

 

This means that for individual taxpayers must submit a realization report by March 30, 2023 and for corporate taxpayers must submit a realization report by April 30, 2023.

 

 

Consideration

Director of Counseling, Services, and Public Relations, Mrs. Dwi Astuti, said that the high enthusiasm of taxpayers in reporting the Annual Tax Return is the main reason for DGT to provide relaxation in submitting the PPS realization report. Thus, to provide an opportunity for taxpayers to complete the Annual Tax Return earlier, DGT has taken a policy to extend the deadline for submitting the PPS realization report.

 

 

 Voluntary Disclosure Statistics

 Until the deadline for submitting the Voluntary Disclosure Program asset declaration letter on June 30, 2022, there were 247,918 taxpayers who participated in the program. The total net asset value reported by taxpayers in this program is IDR 594.82 trillion, consisting of domestic declarations and repatriations of IDR 512.58 trillion, overseas declarations of IDR 59.91 trillion, and investments of IDR 22.34 trillion (DGT, 2022).
 

 

 

PPS reporting terms

In actual fact, the technical provisions regarding the realization report of the repatriation and/or investment of the voluntary asset disclosure program are regulated in Minister of Finance Regulation Number 196 of 2021 concerning Procedures for Implementing the Asset Disclosure Program in the Framework of Information Disclosure for Taxpayers.

 

Article 18 Paragraph (1) of PMK 196 stipulates that Taxpayers who declare that they will repatriate assets and or invest net assets must submit a realization report to the Director General of Taxes electronically.

 

The first report shall be submitted prior to the submission of Annual Income Tax Return for Corporate and Annual Income Tax Return for Individual in fiscal year 2022. Meanwhile, the second and subsequent reports must be submitted at the latest before the deadline for submitting the 2023 Annual Income Tax Return.

 

 

Activation of PPS Service Feature

Before submitting the realization report of the repatriation and/or investment voluntary disclosure program, Taxpayers must first activate the voluntary disclosure feature at djponline.go.id. The voluntary disclosure feature can be activated through four easy steps as follows:

1. Open the djponline.pajak.go.id page, enter the user and password, then enter the taxpayer profile tab

2. Click on the feature activation menu

3. Click the list of voluntary information disclosure program

4. Click change service features as follows:

 

After activating the voluntary disclosure service, you can submit the investment and/or repatriation report. To submit the investment and/or repatriation realization report under the voluntary disclosure program, Taxpayers can take three easy steps as follows:

1. Log in to the djponline.pajak.go.id page, fill in the User & Password, then go to the Reports tab.

2. Click on Voluntary Disclosure Program

3. Click create report

If you find any difficulties, you can contact Ideatax.

 

 

References

DGT. (2022, June 30). Voluntary Disclosure Program . Retrieved from pajak.go.id: https://pajak.go.id/id/PPS

 

Related Regulations

• Law Number 7 of 2021 on Harmonization of Tax Regulations

• Minister of Finance Regulation Number 196 of 2021 on Procedures for Implementing the Voluntary Information Disclosure Program by Taxpayers