Finance Minister Sri Mulyani Indrawati, center, with Tax director general Ken Dwijugiasteadi, Chief Economic Minister Darmin Nasution, Corruption Eradication Commission (KPK) deputy chairman Laode M. Syarif and Customs and Excise director general Heru Pambudi at the launch of two reform teams on Tuesday (20/12). (Antara Photo/Akbar Nugroho Gumay)

Finmin Asks Banks to Open Until Late on Friday, Saturday to Support Tax Amnesty

BY :TABITA DIELA

DECEMBER 29, 2016

Jakarta. The government expects commercial lenders selected to receive state revenue from taxes to open until late on Friday and Saturday this week, allowing taxpayers to join the much-lauded tax amnesty program at the last minute and secure tax revenue collection.

The lenders — officially referred to as "perception banks" — are set to prolong service hours until 9.00 p.m. on Friday and 3.00 p.m. local time on Saturday, Finance Minister Sri Mulyani Indrawati said in a statement on Thursday (29/12).

"Taxpayers are expected to confirm to their banks to ensure service hours on that dates," the minister said.

An earlier statement from central bank Bank Indonesia said it will be operating on both days with its real-time gross settlement system — which caters to large transactions above Rp 100 million ($7,400) between banks — and the script-less securities settlement system operating normally.

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Commercial banks have also said they will be operating normally despite the weekend, allowing taxpayers to make tax payment or transfers in large amount.

The government has so far managed to rake in Rp 105 trillion in total tax amnesty-related penalties — which include the 2 and 3 percent tariff, payment of preliminary evidence from tax investigation and tax due payment — for the state coffers, according to the tax office's publicly available data on Wednesday.

The tax office has also made taxpayers declared Rp 4,155.2 trillion in previously unreported assets and to make them repatriate Rp 141.4 trillion in various assets.

That compared to a Rp 4,000 trillion target of wealth declaration, Rp 1,000 trillion in repatriated assets and Rp 165 trillion in additional tax revenue.

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