The Government has determined 332 sectors of business activities that belong to investment objectives of Voluntary Disclosure Program (VDP). The flow of VDP’s investment funds in Indonesia contributes as a financing source for economic development as well as to expand national tax base.
As regulated by the Minister of Finance, Sri Mulyani Indrawati, stated in the Decree of the Minister of Finance (KMK) Number 52/KMK.010/2022 concerning Business Activities in the Natural Resources Processing Sector and the Renewable Energy Sector as the Purpose of Net Assets Investment for the Implementation of Taxpayer Voluntary Disclosure Program (KMK 52/2022).
The issuance of this regulation is an implementation of Article 16 paragraph (4) of the Regulation of the Minister of Finance Number 196/PMK.03/2021 concerning Procedures for the Implementation of Taxpayer Voluntary Disclosure Program.
The business sectors listed in KMK 52/2022 include the fish freezing industry, seaweed processing industry, fruit and vegetable drying industry, and others. However, there are some sectors that are not classified as processing or down-streaming of natural resources as well as the use of renewable energy, namely activities related to digital technology.
Some of these include video game development activities, trading application development via internet, blockchain technology development, internet of things (IoT) consulting and design activities, as well as web portals and/or digital platforms.
Director of Extension, Services, and Public Relations of the Directorate General of Taxes, Neilmaldrin Noorsaid, said that all sectors specified in KMK 52/2022 can support activities in the natural resource processing sector and renewable energy because they use ecosystem approach. This means, investment in sectors such as production and post-production activities for films, videos, and television programs specifically for animation can support the processing of natural resources and renewable energy.
