Jakarta, CNBC Indonesia – The government ensures that inheritance that has not been reported in the SPT must participate in the Voluntary Disclosure Program (PPS) aka tax amnesty volume II. This means that inheritance will be subject to tax rates.
So far, assets obtained from inheritance are not tax objects. It just needs to be reported in the SPT and if you forget it can be corrected.
However, with the Tax Regulations Harmonization Act (HPP) the correction of assets in the SPT is abolished, so inheritance that has not been reported in the SPT is equated with other assets.
“Basically, inheritance is not a tax object as long as it is reported in the SPT. But taxpayers are not allowed to correct the SPT after the law comes into effect. So inevitably declare it as property and participate in PPS,” he said in CNBC Indonesia’s Power Lunch, Friday (12/24/2021) .
Thus, inheritance that should be excluded from tax payments will be subject to final Income Tax (PPh) rates in accordance with the HPP Law. “The consequence (unreported assets in the SPT) must pay final tax as assets disclosed in PPS,” he concluded.
The following are the two PPS tariff policies in the HPP Law:
Final PPh rates for this first scheme are:
– 11% for overseas property not repatriated into the country.
– 8% for overseas property repatriated to and domestic assets
– 6% for repatriated overseas property and domestic property invested in National Securities (SBN) and downstream Natural Resources (SDA)
Second, it applies only to individual taxpayers whose assets have not been disclosed in the 2020 tax year SPT. This applies to assets acquired in the 2016-2020 period.
The final PPh rates for this second scheme are:
– 18% for overseas property not repatriated into the country
– 14% for repatriated overseas property and domestic property
– 12% for repatriated overseas assets and domestic assets invested in Government Securities (SBN) and downstream Natural Resources (SDA) and renewable energy.
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