Assets list in the return
Harta apa saja yang wajib dilaporkan di SPT?
The situation
Residents list assets held at 31 December, such as cash, bank accounts, property, vehicles and shares, at acquisition cost, and their debts.
The law
- Art 3, Law 6/1983 on General Provisions and Tax Procedures (KUP Law), as last amended by Law 6/2023: Returns are due 20 days after the month for most monthly returns, end of the next month for VAT, 3 months after year end for individuals and 4 months for companies; annual returns can be extended by up to 2 months
- Law 11/2016 on Tax Amnesty: The 2016 amnesty closed in 2017; assets later found that were not declared are treated as income
What it means for you
The asset list lets the DJP check that your wealth matches your reported income. Assets not declared that later come to light can be treated as income, especially for those who joined the 2016 amnesty. Use acquisition cost, not market value.
What to do
- List all assets at 31 December.
- Use acquisition cost.
- Include foreign assets.
- List debts.
Gaps between wealth growth and income invite DJP questions.
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