Indonesia to trace and tax assets kept hidden during amnesty

Jakarta

INDONESIA'S government has issued new regulations aimed at tracing and taxing the wealth of taxpayers who were not pardoned in the nine-month tax amnesty that ended in March.

Around 972,000 taxpayers joined the amnesty programme and declared assets worth a total of 4,881 trillion rupiah (S$495.58 billion). About 24 per cent of that was held offshore, mostly in Singapore, and only a small percentage of it was pledged to be brought back home.

President Joko Widodo vowed last year to implement a "tax law enf…