30 Sep '16, 4pm

Indonesia tax amnesty take-up rate exceeds expectations: Analysts

Indonesia tax amnesty take-up rate exceeds expectations: Analysts

SINGAPORE: The take-up rate for Indonesia's tax amnesty programme exceeded expectations in the days leading up to Friday (Sep 30), the final day of the first phase during which the most generous terms were offered to those participating in the programme. As of Friday, the programme has raised 96.4 trillion rupiah (S$10.1 billion) in revenue - almost 60 per cent of the government's target of 165 trillion rupiah. Economists Channel NewsAsia spoke to said that the uptick in momentum of people declaring assets was unexpected, but that momentum is expected to continue at a slower pace after this first phase. During the first phase of the programme, previously undeclared assets are taxed at the lowest rates of two to four per cent. Tax rates in the second phase are up to two percentage points higher than in the first phase of the programme. "In terms of the rest of it, I think t...

Full article: http://www.channelnewsasia.com/news/singapore/indonesia-t...

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