30 Mar '17, 6am

Indonesia to widen crackdown on tax cheats as amnesty closes - THE BUSINESS TIMES

Indonesia to widen crackdown on tax cheats as amnesty closes - THE BUSINESS TIMES

[JAKARTA] With Indonesia's tax amnesty coming to an end, authorities are now setting their sights on those who didn't participate and continue to evade taxes. Officials plan to scrutinise credit-card data from banks and compare those with tax reports after the amnesty program uncovered more than US$353 billion in previously undeclared assets. While the participants in the amnesty would be "supervised", the rich or large taxpayers who didn't take part would pay a much heavier price, including penalties of as much as 200 per cent, Hestu Yoga Saksama, director for public relations at the Directorate General of Taxation, told reporters in Jakarta on Wednesday. The amnesty program, a key plank in President Joko Widodo's push to boost revenue needed to fund ambitious spending plans, will end Friday with the government already netting about 125 trillion rupiah (S$13.11 billion) i...

Full article: http://www.businesstimes.com.sg/government-economy/indone...

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