Jakarta (Antara Bali) - Assets declared by tax payers until morning of the last day of the first period of tax amnesty program on September 30 , 2016 reached Rp3,195 trillion or an increase of Rp400 trillion in 24 hours.
The Taxation Directorate General said in its website that by Friday morning 303,025 asset declaration letters were received declaring assets valued at Rp3,195 trillion.
The value of assets declared rose Rp400 trillion from Rp2,798 trillion on Sept 29 afternoon or 24 hours earlier, the data showed.
The amount is expected to go up still in the rest of Friday as tax payers would make use of the remaining hours when they could pay lower rate of redemption.
Redemption tariff is only 2 percent in the first period of the tax amnesty program to end on Friday. In the second period from October 1 to December 31 the tariff would be 3 percent and in the last period from January 1 until March 31 it would be 5 percent.
The assets declared included assets in the country valued at Rp2,177 trillion and assets abroad valued at Rp888 trillion.
Redemption fund from the assets, based on the declaration, and taxes in arrears totaled Rp93.5 trillion .
Indonesia has claimed to be the most successful in the implementation of tax amnesty program with assets declared valued at Rp3,000 trillion .
Earlier the largest realization of tax amnesty has been recorded by Italy in 2009 with asset declaration reaching Rp1,179 trillion. (WDY)
