Indonesia says tax amnesty will boost revenue by US$12b

Jakarta

INDONESIA's finance minister on Monday said an amnesty programme would boost tax revenue by an additional 165 trillion rupiah (S$16.7 billion) or US$12.12 billion if it becomes effective in June, an estimate far more optimistic than that of the central bank and analysts.

Under the tax amnesty, the government would offer low rates for taxpayers who declare untaxed assets at home and abroad in order to broaden the country's tax base.