ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Indonesia launches sequel to tax amnesty

Lower penalty for voluntary disclosure amid looming revenue shortfall

People waiting to register for the government's tax amnesty program at a tax office in Jakarta on Sept. 30, 2016.   © Reuters

JAKARTA -- Under pressure to plug a looming revenue shortfall, the Indonesian government is giving taxpayers another chance to report previously hidden assets, a move dubbed by critics as "tax amnesty chapter two."

The nine-month amnesty, which ended in March this year, exempted Indonesian tax dodgers from criminal prosecution and imposed on them small fines only if they declared previously hidden assets. The tax office had repeatedly said that once the program ended, officers would hunt down unreported assets and slap evaders with a hefty penalty of 200% of their original tax bills.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more