Jakarta (Antara Bali) - Coordinating Minister for Economy Darmin Nasution said rising revenues in redemption from the tax amnesty program would have positive impact on the state budget.
"The impact of the revenues which is expected to rise still from day to day is that the government would no longer need to cut the state budget," Damri said here on Monday.
The government has twice cut the budget to curb widening deficit, mainly on shortfall in tax revenues outside the program.
The amount of redemption that goes to the state treasury has increased sharply in the last few days before the end of the first period on Sept. 30 this year.
The redemption tariff is only 2 percent in the first period of the tax amnesty program by the end of this month on assets in the country or repatriated to the country and 4 percent on assets abroad.
The redemption tariff is 3 percent in the second period from Oct 1 to Dec. 31 this year on assets in the country or repatriated to the country and 6 percent on assets abroad .
The tariff is 5 percent in the third period from January 1 to the end of the program on March 31 in 2017 on assets in the country or repatriated ton the country and 10 percent on assets abroad.
Darmin said the revenues in redemption ahead of the end of the first period is as projected , although still far from the target of of Rp165 trillion by the end of this year.
"No simulation has been made yet to see the precise impact, but the revenue is expected to continue to increase in the few days until the end of this month," he said, adding increase is also expected in the second period.
Therefore, Darmin expressed optimism that the program would run more effectively until the end of the program in March 2017.
He said revenues in redemption reached Rp62 trillion by Sept. 26 this year.
Among the benefits offered to those taking part in the tax amnesty program include abolition of tax not paid in the past, no tax administrative sanction and criminal sanction and the data would not be used for legal investigation .
The program would end in March 2017, after the deadline, failure to pay tax or tax evasion would be legally charged.(WDY)
