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Indonesia 2nd Tax Amnesty Program: $4 Billion Tax on $40 Billion Assets Declared, Total $13 Billion Tax on $340 Billion Assets Representing 32% of Indonesia $1.05 Trillion GDP
7th July 2022 | Singapore
Indonesia’s 2nd tax amnesty program (6 months) for Indonesian citizens & companies to declare hidden assets has earned the tax authorities $4 billion in tax revenue from $40 billion of assets by 247,918 taxpayers. The first tax amnesty program was in 2016 to 2017 (9 months), with $300 billion of assets declared and $9 billion of tax collected. With the 2 tax amnesty programs by Indonesia government, a total of $340 billion of assets had been declared and $13 billion of tax collected. The $340 billion assets declared represents around 32% of Indonesia’s GDP ($1.05 trillion). Indonesia Finance Minister Sri Mulyani Indrawati: ”We’re not going to hold another tax amnesty. All the data that we got from this programme will become our baseline to do enforcements.” According to Business Times Singapore:”8,000 participants declared S$5.3 billion of assets in Singapore.”
“ Total $13 Billion Tax on $340 Billion Assets Representing 32% of Indonesia $1.05 Trillion GDP “
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Indonesia 2nd Tax Amnesty Program: $4 Billion Tax on $40 Billion Assets Declared
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