Technical Guidelines on Revisions and Cancellations of Net-Asset Disclosure Statement Letters Introduced

Through the issuance of Law No. 7 of 2021 on the Harmonization of Tax Regulations (“Law 7/2021”) and Regulation of the Minister of Finance (“Minister”)  No. 196/PMK.03/2021 on Procedures for the Implementation of the Taxpayer Voluntary Disclosure Program (“Regulation 196/2021”),[1] taxpayers are given the opportunity to disclose any tax obligations which have yet to be fulfilled voluntarily by settling their payable final income tax (pajak penghasilan – “PPh”)  and submitting notification letters of asset disclosure (surat pemberitahuan pengungkapan harta – “SPPH”). Upon the submission of said SPPH, a net-asset disclosure statement letter (surat keterangan pengungkapan harta bersih – “SKPHB”) will be issued.[2] However, if the disclosed assets in question are not in accordance with the actual situation, then any SKPHB which has previously been issued can be revised or canceled.[3]