Extension of the Sunset Policy

" Thank God! " that's what I said when I saw the news on the MetroTV last night about the government's decision to extend the Taxation Sunset Policy.

I have every reason to be grateful, because according to the Tax Law, the Tax Amnesty granted by the Sunset Policy for Tax Payers who correct their Annual Tax Reports (SPT), will end by 31 December 2008. Those who violate shall be penalitized.
Beside that, the Law also required potential Tax Payer who has not obtained a Tax Payer Identification Number (NPWP) latest by the same date. Those who has NPWP do not have to pay Fiscal Fee for travelling abroad, while those do do not have must pay Rp 2,5 mio (increase from current Rp 1 mio).

As the deadline is drawing near, thousands of people inundated the Tax Office either to submit their correct SPT, or apply NPWP.
Considering this fact, the government has decided to extend the deadline until 28 February 2008. The Jakarta Post quoted the Minister of Finance Sri Mulyani as saying that as legal basis for the extension of the Sunset Policy, President SBY has signed an Emergency Law (Perpu).

As a conclusion, I felt that the extension of the deadline for Sunset Policy is a very good chance for us to correct the Annual Tax Reports so that we can avoid the consequence i.e. Penalty for violations.