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Indonesia nets US$330b from tax amnesty

But to avoid this being a one-off windfall, nation needs to improve a tax collection ratio well below many of its peers, argue international agencies and local officials
Wednesday, March 22, 2017 - 05:50

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Dr Sri Mulyani (above) has set up a special tax reform team to boost collection. The team aims to increase the tax ratio to 15 per cent of GDP in 2020 from about 11 per cent now. That compares with a global average of 14.8 per cent in 2014, according to the World Bank.

Jakarta

SOUTH-EAST Asia's biggest economy this month is winding up one of the world's most successful tax amnesties, with at least 745,000 taxpayers declaring more than US$330 billion of assets so far.

President Joko Widodo has cited higher tax revenue as the key to boosting

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