Indonesia tax amnesty nets $330 bln

by 6:30 PM 0 comments
But if the amnesty is to avoid being just a one-off windfall, Indonesia needs to improve a tax collection ratio well below many of its peers, international agencies and local officials have said.
"People don`t pay taxes because they believe they won`t get caught," said Darussalam (like many Indonesians, he goes by one name), a partner at consultancy Danny Darussalam Tax Centre.
To that end, Indonesia`s finance minister Sri Mulyani Indrawati has set up a special tax reform team to boost collection.
Southeast Asia`s biggest economy this month is winding up one of world`s most successful tax amnesties, with at least 745,000 taxpayers declaring more than $330 billion of assets so far.
President Joko Widodo has cited higher tax revenue as the key to boosting infrastructure spending and growth.

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