JAKARTA: One of the biggest winners from an Indonesian tax amnesty may turn out to be the shares of real-estate developers, as funds get channeled into investments in the nation's houses and apartments.
Bank Indonesia (BI) estimates about 560 trillion rupiah (US$42bil) of undeclared income will be repatriated as a result of the reprieve. In a country where less than 0.2% of people own stocks, a chunk of this is likely to eventually be spent on real estate, according to PT Manulife Aset Manajemen Indonesia.
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