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Sandiaga, Rachmat Gobel to dissolve SPV for tax amnesty
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Sandiaga Salahuddin Uno shows document after submitting his tax amnesty application to the Sudirman tax office, South Jakarta, on Wednesday
(JP/Anton Hermansyah)
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usinessmen Sandiaga Salahuddin Uno and Rachmat Gobel will dissolve their special purpose vehicles (SPVs) as part of the tax amnesty program.
According to the SPV rule, which was revised recently, tax amnesty participants no longer have to dissolve all SPVs. They have to dissolve them only if they want to repatriate assets from a particular SPV, while the remaining SPVs will be charged with the declaration tariff (4 percent in the first period) instead of the repatriation tariff (2 percent).
"I already talked with my team, if the SPVs are not being used anymore, they will be dissolved," Sandiaga told The Jakarta Post after completing his tax amnesty application in Sudirman tax office, South Jakarta on Wednesday.
According to International Consortium of Investigative Journalist (ICIJ) data, Sandiaga is affiliated with at least eight SPVs, while Rachmat is affiliated with two SPVs. However Gobel said he already dissolved one SPV two years ago.
"Owning a SPV does not always mean tax avoidance. Those SPVs were created officially by our company during a crisis few years ago to secure funding," Gobel said. (evi)
