• Tax Amnesty Bill Indonesia Implemented in Late July 2016?

    Indonesian Finance Minister Bambang Brodjonegoro is optimistic that the Tax Amnesty Bill can be turned into law at the next meeting with the House of Representatives (DPR). Although not all 27 articles of the Tax Amnesty Bill have been discussed yet among both institutions, the most crucial articles have been debated and the DPR seems to agree that the bill will raise the government's tax revenue. The government and DPR agree that deliberations should be completed by 28 July 2016.

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  • Foreign Exchange Reserves Indonesia Rise Slightly in April 2016

    Indonesia's foreign exchange reserves rose slightly last month. According to the lastest data from the central bank of Indonesia (Bank Indonesia), the country's foreign exchange assets inched up to USD $107.7 billion in April 2016 from USD $107.5 billion in the preceding month. Bank Indonesia stated that the increase came on the back of foreign exchange receipts obtained through the recent sale of central bank certificates (SBBI). These proceeds exceeded foreign exchange needed for foreign debt payments, hence causing rising reserve assets.

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  • Indonesia Concerned about Foreign Ownership of Government Bonds

    The government of Indonesia has expressed its concern about rising foreign debt. Indonesian President Joko Widodo summoned Chief Economics Minister Darmin Nasution for a meeting to express his concern about the issue. In particular the high degree of foreign ownership of Indonesian securities needs attention as foreign ownership of government bonds has reached a new record high. Therefore, analysts say Indonesia needs to optimize government revenue (for example by reforming the nation's tax system) rather than depend on loans and bonds.

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  • Indonesia & Panama Papers: What & Who Are the Involved Companies & People?

    There are plenty of Indonesian names mentioned in the Panama Papers, the massive leak of about 11.5 million confidential documents from the database of Panama-based law firm Mossack Fonseca. Here we present the top 20 of largest Indonesian companies mentioned in the leaked documents. Although it is widely known that offshore firms (special purpose vehicles) in tax havens are set up to engage in tax evasion, it needs to be emphasized that not all people and companies named in the documents are in fact involved in violations of the law.

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