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Not enough capital market entities in tax amnesty: Govt
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Finance Minister Sri Mulyani Indrawati greets House of Representatives members before a working meeting with House Commission XI in Jakarta on Sept. 29. (Antara/Puspa Perwitasari)
T
he government has expressed dissatisfaction with the low participation rates of capital market entities such as security companies, pension funds and publicly listed companies in the tax amnesty even though the program has been running for almost five months, a top official said.
Finance Minister Sri Mulyani Indrawati said that as of Nov. 22, only 60 securities, six pension fund managers and 171 listed companies took part in the program. The average participation rate stood at only 25 percent from the existing 139 securities, 261 pension fund managers and 537 listed companies operating in the capital market.
Sri Mulyani did not detail the reasons behind the low participation rates, but said the government would continue to monitor the situation.
"We will see in December," she said in her speech during an economic outlook seminar at the Indonesia Stock Exchange (IDX) building on Wednesday.
Sri Mulyani also lamented that many executives failed to sign up for the program, as only 50 percent of the 3,887 registered personal taxpayers working at the companies in the IDX joined the program.
"I will tell Pak Tito (IDX president director Tito Sulistio) that I will not come to the IDX again unless all of you join the tax amnesty," she said jokingly. (dmr)
