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Indonesia to Widen Crackdown on Tax Cheats

Indonesia to Widen Crackdown on Tax Cheats

Authorities in Indonesia are now launching a crackdown on those who did not participate and continue to evade taxes as the tax amnesty comes to an end. Officials plan to check credit-card data from banks and compare those with tax reports after the amnesty program unveiled more than $355 billion in previously undeclared assets.

“More than 800,000 participants declared 4,724 trillion rupiah of assets since the amnesty began in July, with Singapore topping the list of countries where Indonesians stashed money.”

~ Bloomberg

According to the Finance Ministry, more than 800,000 participants declared 4,724 trillion rupiah of assets since the amnesty began in July, with Singapore topping the list of countries where Indonesians stashed money.

Related Reports: Bloomberg, The Jakarta Post

 


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