Jakarta must signal tax amnesty won't recur: OECD
Mumbai
INDONESIA'S government must make it clear to errant taxpayers that an amnesty programme, which has revealed almost US$300 billion in undeclared assets, is the last chance to fix their affairs before full penalties are applied, the Organisation for Economic Co-operation and Development said.
"Authorities must communicate clearly that this offer will not be repeated," it said in a report on Indonesia's economy released on Monday in Jakarta. The amnesty was well-timed, the OECD said, as it comes within two years that global rules will be adopted to allow countries to exchange information to reduce the risk of tax evasion.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin