he noise regarding the tax amnesty has cast doubts among big taxpayers who are interested in participating in the program. However, the situation has opened a business opportunity for tax consulting firms.
Big clients are concerned with issues about the period extension, and even revocation, of the tax amnesty. As the deadline of the first phase — which offers the lowest fees — will end soon on Sept. 30, they want to move quickly, according to Jakarta Consulting Group (JCG).
"In a sluggish economy such as now, a higher tariff is sensitive for them. Especially clients from the trade and commodity industries," JCG chairman Alfonsus Budi Susanto told The Jakarta Post in Jakarta on Wednesday.
Amid the situation, big fish will likely hire tax consultants to help them finish registration faster. Susanto estimated that consultants could assist clients to finish tax amnesty registration in three weeks. "If the clients are using special purpose vehicles, it might take less time than that," he said.
Tax consultants could provide three kinds of services in regards to the tax amnesty, Susanto said. First, form filling advisory for a 0.1 to 0.4 percent fee of the assets reported; second, documentation completion costing around 0.4 to 0.8 percent; or third, an end-to-end service that costs 0.8 to 1.2 percent.
However, he was yet to be able to elaborate on the exact potential of tax amnesty momentum in boosting the tax consulting business this year. (ags)
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