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New credit card scrutiny sends Indonesians back to cash
Published Mon, May 30, 2016 · 09:50 PM
Jakarta
INDONESIA'S plan to track all credit card transactions in a bid to crack down on rampant tax evasion is pushing people back to cash, stifling government efforts to track illicit money flows.
A new government decree requiring credit card providers to submit transaction details - including customer and merchant identities - to the tax office as of May 31 appears to be spooking consumers with card activity falling in April.
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