JAKARTA. In order to join tax amnesty program, businessmen who have active special purpose vehicle (SPV) abroad only need to declare their assets. Finance Minister Staff for State Revenue Policy Astera Primanto Bhakti said that if the active SPV company is owned by more than one party, the businessman only need to declare his ownership in the company. In this case, the owners of active SPV are subject to Finance Minister Regulation (PMK) No 118/PML.03/2016 on the Implementation of Law No. 11 Year 2016 on Tax Amnesty. The Finance Minister Regulation stipulates that taxpayers who have indirect assets through SPV have to declare their asset and debt in detail on paper form or in soft copy format. A 4% of redemption fees applies for active SPVs that declare their offshore asset before 30 September 2016. For those who declare their assets until March 2017, a 6%-10% redemption fees applies.
Active SPV owners only need to declare asset
JAKARTA. In order to join tax amnesty program, businessmen who have active special purpose vehicle (SPV) abroad only need to declare their assets. Finance Minister Staff for State Revenue Policy Astera Primanto Bhakti said that if the active SPV company is owned by more than one party, the businessman only need to declare his ownership in the company. In this case, the owners of active SPV are subject to Finance Minister Regulation (PMK) No 118/PML.03/2016 on the Implementation of Law No. 11 Year 2016 on Tax Amnesty. The Finance Minister Regulation stipulates that taxpayers who have indirect assets through SPV have to declare their asset and debt in detail on paper form or in soft copy format. A 4% of redemption fees applies for active SPVs that declare their offshore asset before 30 September 2016. For those who declare their assets until March 2017, a 6%-10% redemption fees applies.
