BERITA TERKINI
JAKARTA, DDTCNews - The extensive privileges granted by the government to debt securities issued by Danantara have attracted widespread public attention throughout the week. The government has stated that it will not scrutinize the source of investors' funds used to purchase such securities.
Minister of Finance, Purbaya Yudhi Sadewa, stated the government's protection applies only to investors purchasing Danantara's special securities, such as patriot bonds. For securities other than such special securities, however, law enforcement authorities remain empowered to pursue businesspeople or investors and bring them before the courts should they commit violations.
"Money used to buy patriot bonds won't have its source scrutinised, but if someone has other businesses, those may continue to be pursued [for law enforcement]," he remarked.
Given that funds invested through Danantara's special securities are guaranteed and protected from legal prosecution, Purbaya encouraged investors to seize the opportunity. Funds invested in patriot bonds, he added, will also help stimulate the economy.
"What goes in there [securities] is safe, but the company is not immune. As such, it's not like a tax amnesty. A tax amnesty covers everything. This doesn't. It only covers the inflow of money. So, if you have a lot of money, put it in there quickly," he added.
Coordinating Minister for Economic Affairs, Airlangga Hartarto, likewise stated that the purchase of Danantara's special securities does not constitute money laundering.
According to Airlangga, purchasing securities or performing investments cannot be regarded as money laundering because investors place their funds in official financial instruments. He also maintained that the new policy does not undermine global confidence in Indonesia as a member of the Financial Action Task Force (FATF), the international organisation combating money laundering.
"As for the FATF, Indonesia is already a member. Naturally, our investments are not part of money laundering," he said.
On another note, the government has recently promulgated Law 4/2026 concerning the Amendment to Law 4/2023 concerning the Development and Strengthening of the Financial Sector (pengembangan dan penguatan sektor keuangan/P2SK in Indonesian). Under the new legal framework, Danantara is authorised to issue securities, both general securities and special securities such as patriot bonds and merah putih bonds.
Pursuant to Law 4/2026, every purchase of special securities by investors constitutes a lawful transaction within the national financial system. Accordingly, the state provides protection for such purchases.
"Negara menjamin dan melindungi pembelian instrumen surat utang khusus ... dari penuntutan secara pidana umum, pidana khusus termasuk di dalamnya pidana perpajakan, dan dari gugatan secara perdata," bunyi Pasal 50A ayat (5) UU 4/2026.
"The state shall guarantee and protect the purchase of special securities ... from general criminal prosecution, special criminal prosecution, including tax criminal prosecution and from civil lawsuits," reads Article paragraph (5) of Law 4/2026.
Moreover, Law No. 4/2026 stipulates that data and information arising from the purchase of special securities may not be used as the basis for tax assessment, nor may they be admitted as legal evidence in court litigation.
Beyond the privileges accorded to patriot bonds, several other tax-related developments also merit attention. These include the government's plan to establish a financial centre and its assurance that tax refund disbursements are not being held back.
Coordinating Minister for Economic Affairs, Airlangga Hartarto, responded to plans to establish Indonesia's international financial centre, which would offer special tax incentives and has prompted concerns that Indonesia could become a tax haven.
Airlangga did not directly address the possibility of Indonesia becoming a tax haven. He merely noted that tax incentives for financial centres are commonly offered to attract investors, citing Singapore and Dubai in the United Arab Emirates as examples.
" Tax havens exist everywhere now; in Dubai and Singapore, there are also tax havens," he claimed.
Minister of Finance, Purbaya Yudhi Sadewa, has asserted that the government is not attempting to hold back tax refund disbursements to taxpayers. . In his view, tax refunds should not be a source of taxpayer complaints, given that refunds disbursed during the first 4 months of 2026 have already matched the total amount disbursed between January and September 2025.
“In 4 months [this year], IDR160 trillion has already been paid out; last year it took 9 months to reach IDR160 trillion. If you multiply 4 months by 3, that comes to roughly IDR500 trillion. Last year, the full-year figure was IDR360 trillion. With those figures, there should be no complaints. That means it is the tax officials themselves who are playing games," said Purbaya.
Purbaya also instructed tax officials not to stir up controversy over tax refunds.
The Directorate General of Taxes (DGT) has issued and dispatched 250,000 letters of inquiry (surat permintaan penjelasan atas data dan/atau keterangan/SP2DK in Indonesian) to taxpayers throughout January to June 2026.
Inge stated that SP2DKs have been sent online via coretax and taxpayers' email addresses. In addition, SP2DKs have also been dispatched manually by post, forwarding or courier services.
“Approximately 185,000 SP2DKs have been issued for the purposes of supervision and around 65,000 SP2DKs have also been issued in the context of extensification,” she remarked.
The DGT continues preparations to appoint marketplace providers as Article 22 Income Tax collection agents beginning on 1 July 2026, pending Purbaya's approval. The appointment of marketplace providers as collection agents is governed by MoF Reg. 37/2025 and PER-15/PJ/2025.
Inge said appointing marketplace providers as collection agents would simplify tax administration for merchants. Article 22 Income Tax collected by marketplaces may subsequently be credited by merchants against their current-year tax liability or treated as part of their final income tax settlement.
"There will be no double withholding. In fact, the objective is for platforms to assist sellers. They won't have to go through the hassle of paying taxes themselves because the tax will be withheld automatically and they will receive a withholding receipt," she said.
The government has finally issued MoF Reg. 43/2026, providing for government-borne (ditanggung pemerintah/DTP in Indonesian) VAT on domestic economy-class airline tickets during the school holiday period.
The incentive covers 100% of the VAT imposed on the base fare and fuel surcharge.
The government-borne VAT applies to tickets purchased between 22 June and 5 July 2026. However, the incentive is available only for flights scheduled between 24 June and 5 July 2026. (dik)
