Indonesia to let tax amnesty funds be invested in stocks, bonds, funds: official

[JAKARTA] Indonesia will allow funds from a tax amnesty programme to be invested in government-issued securities as well as stocks, bonds and mutual funds issued by private companies, finance ministry official Robert Pakpahan told reporters on Monday.

The government had shortlisted asset management firms and brokerage houses that will be allowed to manage repatriated funds, Mr Pakpahan said.

"Banks, investment managers and securities companies will collaborate with the Tax Office and have to report monthly to the Tax Office about the investments from the tax amnesty," he said, adding direct purchase of properties would also be allowed.

REUTERS