JAKARTA. Lawmakers have not yet reached an agreement on approving the tax amnesty bill into law, as lawmakers still differ on the urgency of the bill's approval, says House of Representatives Speaker Ade Komarudin.

With the House's current sitting session set to end on Friday, Ade expressed hope that lawmakers would instead agree to approve the bill in the next session, by the middle of next month.

"I actually wanted the bill to be finished in this sitting session. But it's not easy. We don't have enough time [to discuss the bill]," Ade told journalists in Jakarta on Wednesday, adding that the next session would take place from April 30 to May 17.

Previously Ade expressed his aim for the bill to be approved this month to help the government attract wealthy Indonesians to bring home funds that they have kept in other countries.

But Ahmadi Noor Supit from House Commission XI overseeing finance and banking said the commission would need to form a working committee to look closely into crucial articles in the bill that have become burning issues during the deliberations.

A number of lawmakers continue to question the urgency of the bill and the amount of incoming funds if the bill is approved into the law, Ahmadi said after a hearing with Indonesia Stock Exchange executives on Wednesday.

Lawmakers are still waiting for government disagreements about the urgency of the bill to be resolved, Ahmadi added, particularly on whether the incoming funds would significantly help the country’s economy.

The approval of the bill is expected to help the government provide amnesty to individuals and companies who declare their untaxed wealth. For the execution of the regulation, the House still needs to revise three related laws, including the General Provisions and Tax Procedures Law.

President Joko “Jokowi” Widodo has reportedly prepared alternative regulations such as a government regulation on the tax amnesty if lawmakers fail to approve the bill into law.

The total tax revenue target for this year is Rp 1.36 quadrillion ( US$102.64 billion ), 28.2 percent higher than the Rp 1.06 quadrillion achieved in 2015. However, the government plans to revise the state budget to a more realistic figure, including its tax revenue target. (Erika Anindita Dewi)

Editor: Barratut Taqiyyah Rafie