Indonesia plans tax "sunset policy" to boost asset declarations, says media report

JAKARTA, May 28 (Reuters): Indonesia's government intends to propose a "sunset policy" to encourage the declaration of unreported assets, similar to its previous tax amnesty programme but with much higher penalty rates, newspaper Bisnis Indonesia reported on Friday.

The policy will target undeclared assets using a range of rates applied under several different schemes and with an incentive to invest in government bonds, the newspaper said, citing a draft proposal that would be discussed with parliament.