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Indonesia starts implementing tax amnesty

On Monday, the Indonesian government is going to get down to the implementation of the long-awaited tax amnesty program, more than two weeks after the country’s parliament officially passed the law in an attempt to bring home funds stashed abroad. That’s what the country’s statesman told.   

Later this day, the country's finance minister is going to hold a press briefing, as one official states, who has refused to be named, in his interview to Reuters on Monday.

The government is on the verge of imposing a 2-5% tax for assets repatriated by March 2017. In fact, those assets should be kept in Indonesia for up to three years in funds managed by appointed financial institutions and can be invested in several ways, such as government bonds, for instance.

The government has managed to name the four state banks as well as up to three private banks as managers for the fund, as president director of Bank Central Asia, one of the appointed banks, told in his interview.

 

 

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