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Collecting money from tax amnesty

TAX amnesty programmes by countries have been in existence for years and the country that has had the biggest success in getting vast sums of money from its citizens and companies is Indonesia.

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Bank Indonesia: Tax amnesty will boost GDP

JAKARTA: Bank Indonesia said it’s working to maximize the potential benefits of a planned tax amnesty that may help boost economic growth to as much as 5.4% this year.

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Indonesia plans to offer tax amnesty

JAKARTA: Indonesia plans to offer a tax amnesty soon to help coax money back into the country and boost dwindling state revenue, the Kontan newspaper reported, citing a draft of a law being discussed by the government and a parliamentary commission.

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BCA among banks to manage Indonesia amnesty funds

JAKARTA: Bank Central Asia Tbk (BCA) and Bank Danamon Tbk are expected to be among lenders named by Indonesia’s government to manage funds repatriated due to a tax amnesty that is expected to attract billions of dollars in assets.

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Indonesia stocks jolted by reality as tax amnesty optimism fades

JAKARTA: As Indonesia’s tax amnesty delivers only a fraction of the hoped-for revenue, a dose of reality is worsening the nation’s growth outlook and eroding this year’s stocks rally.

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Singapore banks report tax amnesty Indonesians to police

SINGAPORE: Private banks in Singapore are sharing with local police the names of clients embracing an Indonesian tax amnesty, three banking sources told Reuters, a move that could undermine the amnesty and damage the banks' business with their biggest client pool.

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Indonesia to trace and tax assets kept hidden during amnesty

JAKARTA: Indonesia’s government has issued new regulations aimed at tracing and taxing the wealth of taxpayers who were not pardoned in the nine-month tax amnesty that ended in March.

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Indonesian tax amnesty could spark outflow from Singapore wealth industry

SINGAPORE: Singapore’s wealth management industry is likely to suffer a bad dent as rich Indonesians move some money back home to take advantage of a tax amnesty, but the exodus of funds isn’t going to be as big as Jakarta is predicting.

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Tony Fernandes joins Amnesty's Global Council

KUALA LUMPUR: AirAsia founder Tan Sri Tony Fernandes, who joined Amnesty International when he was just 13, has now taken up a new role as a member of the human rights organisation's Global Council as it seeks to expand in Africa, Asia, Latin America and the Middle East.

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Amnesty tax windfall?

PETALING JAYA: The government stands to collect billions of ringgit in tax revenue for next year under the Special Voluntary Disclosure Programme (VDP) announced during Budget 2019, if implemented well.