- In order to offer alternative target of investment under the Taxpayer Voluntary Disclosure Program (Program Pengungkapan Sukarela – “PPS”), the Minister of Finance has issued Decree No. 52/KMK.010/2022 (“Decree 52/2022”), which has now assigned 332 business activities within the natural resources management and renewable energy sectors as investment options, in addition to the available state securities.
- The types of business activities which feature under the new framework of Regulation 52/2022 break down as follows: 1) Geothermal business; 2) Meat processing and preservation; 3) Seaweed processing; 4) Power-plant machinery; 5) Wood-based furniture industry; 6) Video-game development industry; 7) Crude palm-oil industry; and so forth.
- Any taxpayers participating in the PPS who have investment commitments should undertake their investments by no later than 30 September 2023, while said investments should have a minimum holding period of five years. However, during this five-year holding period, PPS participants may move their investments between different sectors, as participation in the program does not require PPS participants to select only one type of investment.
- It is hoped that the investments made by PPS participants will ultimately be able to support Indonesia’s mid- to long-term economic goals, as well as provide greater support for national economic development. (Hukumonline)
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