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Underwhelming Yield For Indonesian Tax Amnesty

by Mary Swire, Tax-News.com, Hong Kong

31 March 2017


Following the closure on March 31 of a tax amnesty program designed to boost the country's historically low levels of tax compliance, the Indonesian authorities have pledged to get tough with wealthy citizens who declined to repatriate their assets.

Launched last summer, the amnesty sought to boost government coffers, with the aim of funding infrastructure spending. However, both participation levels and assets repatriated were significantly lower than expected. The Government has warned those who failed to come forward will face significant penalties.

According to reports, the tax authorities now plan to examine the credit card transactions of suspected tax evaders, and, where untaxed assets are discovered, impose tax at 30 percent and penalties of 200 percent of the unpaid tax.

TAGS: compliance | tax | tax compliance | enforcement | Indonesia

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