As we understand, The International Consortium of Investigative Journalists (ICIJ) has announced the peoples and companies from the globe that hide their restructuring for companies and financing in tax haven countries. They are in the list of Panama Papers 1 and 2. There are 2.961 and almost 4.000 peoples and companies from Indonesia in the list of Panama Papers 1 & 2 consecutively.

          In general, the assets and financial, including revenue transactions have very significant value. Actually the asset is not in the tax haven countries, they put them at the other countries such as Singapore, Hongkong, UEA and other countries.    

          The question now is how to report and pay tax properly when Tax Amnesty applied?

Reporting the assets only will not be satisfied for taxation since the value of shares at SPV in tax haven is very minimum.

          To solve this issue, peoples and companies need to do ‘DESTRUCTURING’ what they have already restructured. They will find not only share but also Receivable and probably payable for that they must report it back later. They only pay tax (uang tebusan) based on 2 percent (subject to approval parliament) of the unreported net assets value, if they transfer them back to Indonesia as soon as after Tax Amnesty applied.

Best,
Agung Tjahjady SH, CPA, MM, BKP
Registered Tax Consultant, Advocate

   

https://tax-legal.id/