As implementation of MoF Regulation No. 196/PMK.03/2021 regarding the Procedures for the Implementation of the Taxpayer Voluntary Disclosure Program (“PMK-196”), Taxpayers are given the chance to voluntarily disclose their tax obligations that have not been fulfilled, by paying the final Income Tax that is due and submitting a Notification of Asset Disclosure.

If there is a Net Asset disclosed by a Taxpayer that is not in accordance with the actual circumstances, the Net Asset Disclosure Certificate that has been issued can be amended or revoked. The Director General of Taxes (“DGT”) has issued Circular number SE-17/PJ/2022 as the technical guidance for amendment or revocation of Certificates of Disclosure of Net Assets.

The purpose and objective of this Circular is to provide guidance and uniformity in the implementation related to the amendment or revocation of Certificates of Disclosure of Net Assets. The Circular provides instructions related to technical matters in relation to:

1. Amendment of the Certificate of Disclosure of Net Assets in the event there is an error in writing and/or miscalculation in the Certificate;
2. Revocation of the Certificate of Disclosure of Net Assets;
3. Follow-up on data obtained by the Tax Office;
4. Follow-up on the request for amendment submitted by the Taxpayer;
5. Other matters.

SE-17/PJ/2022 was issued on June 21, 2022, and it is expected to provide an explanation and guidance regarding the implementation or revocation of Certificates of Disclosure of Net Assets.