Thailand
Indonesia:Tax Revenue Realization Progresses to 33.4 Percent
TEMPO.CO, Jakarta – Finance Minister Sri Mulyani Indrawati said that the tax revenue realization this year has progressed to 33.4 percent or Rp 584.9 trillion of the target set at Rp1,748 trillion.
“Up until May, the tax revenue realization has progressed to 33.4 percent of the target,” she said during a meeting with the House of Representatives at the Senayan Parliamentary Complex in Jakarta on Tuesday, June 13, 2017.
Sri Mulyani added that the Finance Ministry will disseminate Government Regulation in Lieu of Law No. 1/2017 on Financial Information Access for Taxation Purposes next week. The new bill is related to Indonesia’s commitment to waging war against base erosion and profile shifting (BEPS) and tax evasion.
Sri Mulyani predicted that the total amount of undeclared assets reaches Rp4,700 trillion, and assets amounting to Rp1,000 trillion are parked overseas.
“With AEOI and MLI, we want to send a message to highly wealthy people to maintain declare their assets and maintain compliance. It is now much easier to detect delinquent taxpayers,” Sri Mulyani said.
The BEPS is a tax planning strategy that exploits loopholes in domestic taxation bills in order to omit or hide profits in other countries that apply lower taxes. The ultimate goal is to free companies from tax obligations.
Source: https://en.tempo.co/read/news/2017/06/13/056884184/Tax-Revenue-Realization-Progresses-to-334-Percent