Additional Assets
Article 2 of the Regulation of the Director General of Tax Number PER-11 / PJ / 2016 explains what is meant by additional assets, namely as follows:
Included in the definition of additional assets as contained in Article 6 of Law Number 11 concerning Tax Amnesty is:
inheritance; and / or home wealth received by blood in a one-degree straight line,
which have not or have not all been reported in the Annual Income Tax Return.
Inheritance as referred to in paragraph (1) letter a is not an object of Tax Amnesty if:
received by heirs who do not have income or have income below Non-Taxable Income; or
Inheritance has been reported in the annual income tax of the testator.
(D) Property as referred to in paragraph (1) letter b is not an object of tax amnesty if:
received by individual grantees who do not have income or have income below Non-Taxable Income; or
Hibah property has been reported in the Annual Income Tax Return of the grantor.
In the case of the heirs as referred to in paragraph (2) and the recipient of the grant referred to in paragraph (3) does not have the right to submit the inheritance and / or estate assets in the Declaration in the context of Tax Amnesty, the provisions referred to in Article 18 of the Law Law No. 11 of 2016 concerning Tax Amnesty is not applied.
Submission or Correction of Annual Income Tax Return
Article 3 of the Regulation of the Director General of Tax Number PER-11 / PJ / 2016 explains what if the taxpayer does not follow a Tax Amnesty. This is an answer to the people's unrest about Tax Amnesty. So, if you don't follow Tax Amnesty then:
Taxpayers who do not exercise their right to participate in a Tax Amnesty can submit an Annual Income Tax Return or correct an Annual Income Tax Return.
As for Assets obtained from income that have been subject to Income Tax or Assets obtained from income that are not subject to Income Tax and have not been reported in an Annual Income Tax Return, the following conditions apply:
In the event that the Annual Income Tax Return has been submitted, the Taxpayer can make corrections to the Annual Income Tax Return; or
In the event that the Annual Income Tax Return has not been submitted, the Taxpayer may report the asset in the Annual Income Tax Return.
In the event that a Taxpayer does not exercise his right to participate in a Tax Amnesty and the Director General of Taxes finds data and / or information on assets obtained from January 1, 1985 through December 31, 2015 that have not been reported in the Annual Income Tax Return as referred to in paragraph (2), the provisions referred to in Article 18 paragraph (2) of Law Number 11 Year 2016 concerning a Tax Amnesty is applied.
Fair Value of Assets
Article 4 Director General of Taxes Regulation Number PER-11 / PJ / 2016 which explains that how to determine the Fair Value of Assets to be disclosed. Then the Fair Value of Assets are as follows:
Fair Value of Additional Assets is a value that describes a condition and condition of similar or equivalent assets based on the taxpayer's assessment.
Fair value for Additional Assets, as referred to in paragraph (1) other than cash or cash equivalents, is a value that describes a condition and condition of similar or equivalent assets based on the taxpayer assessment at the end of the Last Tax Year.
The fair value reported by the Taxpayer in a Statement of Assets is not tested or corrected by the Director General of Taxes.
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