Jakarta, CNBC Indonesia – The old provisions regarding the reporting of the origin of funds for each transaction of more than Rp. 500 million make property developers still object to it. They objected when the covid-15 pandemic sluggish sales were exacerbated by the existence of provisions that had existed since 2010.
Chairman of the DPP Real Estate Indonesia (REI) Totok Lusida assessed that this condition should be overcome with supporting regulations. He sees that many people have an interest in buying or investing in property, unfortunately that does not happen because they are worried about being hit by tax reporting cases. He encouraged the government to step in quickly by providing the right regulations.
“Not tax amnesty, but sunset policy. Because tax amnesty make people doubt. Because the enforcement is so absolute, is this true or not, later a lie. So I have asked to report the tax, for example money from corruption has been hit you know. But if the money is not used for corruption, like the results of operations so far, the inheritance has not been filed with taxes, and that’s a lot, “Totok told CNBC Indonesia, Monday (7/9).
The potential is very large and spreads throughout Indonesia, namely people who have excess funds, but do not dare to invest. So that more is put under the pillow or stored.
“That is the potential treasure trove of Indonesian society that can rotate, if used for the real sector such as property or micro, the economy will rotate,” he said.
The existence of additional funds can make economic growth creep up. So that budget absorption from the government is not the only hope that can be relied on. Totok also hopes that there will be regulatory relief so that the circulation of money can be revived
“I’ve already reported it to several Ministries, so they asked for it highlight, which tree, this I report as an obstacle in the field, “he explained.
The provisions of the developer must report their purpose to avoid money laundering. This is regulated in Law Number 8 of 2010 concerning the Prevention and Eradication of the Crime of Money Laundering. With this rule, the public and entrepreneurs are directed to comply with taxes by reporting it directly.
In the provisions of Article 17 of the Law, property companies / property agents are included in the category of parties that are required to report for transactions over IDR 500 million. Article 27 confirms (1) Providers of other goods and / or services as referred to in Article 17 paragraph (1) letter b are required to submit reports on Transactions conducted by Service Users in rupiah currency and / or foreign currency whose value is at least or equivalent to Rp. 500,000,000.00 (five hundred million rupiah) to PPATK.
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