With the aim of boosting tax incomes and creating a multiplier effect on the economy, the government is looking to bring home billions of dollars in financial assets parked overseas by Indonesians with a game-changing policy: pardoning past financial crimes.
Finance Minister Bambang Brodjonegoro told The Jakarta Post on Sunday that a bill on a tax amnesty was expected to be deliberated as soon as this year. The bill would allow financial crimes, from corruption and money laundering to tax evasion, to be exempt from all criminal and financial charges, in exchange for the beneficiaries repatriating their assets.
“[The new bill will cover] a pardon for general financial crimes […] including corruption, money laundering, et cetera,” he said. “We need a broader scope of amnesty […] A mere tax amnesty will not be attractive.”
According to Bambang, the amnesty bill will stand alone, separate from a bill on the revision of General Tax System (KUP) Law, which is set to be submitted to the House of Representatives for deliberation this month. The amnesty bill will be deliberated after the completion of the KUP revision. – See more at: http://www.thejakartapost.com/news/2015/06/22/amnesty-financial-crimes.html#sthash.C9LTNHUq.dpuf
