Taxpayers Define Their Fair Value Assets Reported in Tax Amnesty

Jakarta, 30/08/2016 MoF – The latest the Director General of Taxes Regulation (Perdirjen) on tax amnesty also regulates the wealth statement by the taxpayer (WP). Stated in Article four, fair value for the assets reported by the WP in the Asset Statement is based on WP’s evaluation and will not be reviewed or tested by the Directorate General of Taxes.

Fair Value of Additional Assets itself is a value that describes the conditions and circumstances of similar or equivalent assets based on WP’s assessment at the end of the last tax year. Additional assets means inheritance and/or property received by nuclear family, which is not yet or not entirely be reported in the annual tax declaration.

Perdirjen number 11 of 2016 is set at August 29, 2016 and entered into force from the date of enactment. Further information please click Perdirjen number 11 of 2016.  (as)

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