Indonesia plans to offer tax amnesty soon as revenues slump

Jakarta

INDONESIA plans to offer a tax amnesty soon to help coax money back into the country and boost dwindling state revenue, the Kontan newspaper reported, citing a draft of a law being discussed by the government and a parliamentary commission.

The tax breaks would be offered to taxpayers with undisclosed wealth at home and abroad, such as in neighbouring Singapore, which has long been a favourite spot for rich Indonesians to park their funds.