JAKARTA. The government has prepared several advanced instruments to ensure the assets of Indonesian citizens parked overseas, especially in neighboring Singapore, will be repatriated.
Cabinet Secretary Pramono Anung stressed that Singapore's move to cut tax rates and offer facilities to keep Indonesian assets from leaving the country would not hamper the implementation of the tax amnesty program.
"The government is preparing to set up instruments to anticipate attempts by countries hosting Indonesians’ assets to discourage them from participating in the tax amnesty program. Of course there will be further steps," Pramono said at the State Palace on Tuesday.
He added that President Joko "Jokowi" Widodo was leading the campaign to promote the program and would revise several laws, including the General Taxation System (KUP) Law, to make the Indonesian taxation system more credible and attractive.
"The taxation system will be improved so that people will keep the money they have earned in Indonesia in local vaults," he added.
Earlier, Finance Minister Bambang Brodjonegoro claimed that Singapore's move to cut tax rates and offer facilities to keep Indonesian assets from leaving the city-state was a countermove to the recently introduced tax amnesty. (Ayomi Amindoni)
