Tax Amnesty bill delayed
The Indonesian government may have to cut some of the government spending this year as the House of Representatives delayed discussions to deliberate the tax amnesty bill, which was expected to bring additional revenue, until at least April . Mardiasmo, deputy to the finance minister, said the government had sought for deliberation of the bill so it can have some fiscal room to spend additional tax revenue. The tax amnesty policy provides lee way for tax evaders, particularly wealthy ones, to declare their wealth and come clean so they can repatriate and shift their investment portfolios from abroad into the country. The finance ministry previously estimated the policy could boost tax by $4.4 billion this year, a significant amount of extra revenue amid falling commodity prices which have hit Indonesian exporters’ revenue. The bill even set a clause to provide a significant proportion of tax discounts to targeted tax evaders who comply with the policy before March.veroxybd.com