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Jokowi plans tax amnesty to lure cash back

Money repatriated to Indonesia will not be taxed, companies will get tax break

Published Fri, Feb 6, 2015 · 09:50 PM

Jakarta

INDONESIAN President Joko Widodo is planning a tax amnesty in a bid to convince Indonesians to bring back funds held offshore as he seeks to narrow the current-account deficit.

The government will revise rules so people repatriating money won't have to pay tax on it and will also give companies a tax break to keep funds onshore, Finance Minister Bambang Brodjonegoro told lawmakers in Jakarta on Thursday. The changes, which will need parliamentary approval, are the ministry's top priority for 2015, he said.

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