Indonesian rupiah extends gains after tax amnesty bill passed

[JAKARTA] Indonesian rupiah strengthened to its strongest level since May 3 after the country's parliament passed a tax amnesty bill that is designed to get revenue from previously-untaxed wealth of citizens.

The rupiah was up about 0.6 per cent against the dollar just before parliamentary approval in the early afternoon. After it, the gain reached 1.2 per cent, to 13,170 to the dollar.

The bill creates a programme offering low payment rates for taxpayers who declare untaxed wealth.

REUTERS