{"id":28509,"date":"2016-10-04T17:45:22","date_gmt":"2016-10-04T10:45:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesians-make-last-ditch-application-for-tax-amnesty\/"},"modified":"2016-10-04T17:47:52","modified_gmt":"2016-10-04T10:47:52","slug":"indonesians-make-last-ditch-application-for-tax-amnesty","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesians-make-last-ditch-application-for-tax-amnesty\/","title":{"rendered":"Indonesians make last-ditch application for tax amnesty"},"content":{"rendered":"


\nThe queues ran long and late into the night
\nTraffic in Jakarta. Kichigin\/Shutterstock
\nAround 2,750 people lined up at Indonesia\u2019s tax headquarters to beat the deadline of the first phase of the tax amnesty program \u2014 with some even queuing up until late night.
\nIn a handwritten letter to the tax office\u00a0revealed\u00a0on Sunday, Finance Minister Sri Mulyani commended tax officials for accommodating applicants. \u201cIn the morning, afternoon, evening and up until the early hours, everyone participated in handling the public enthusiasm with patience, attention, smiles and spirit to show that tax directorate general is trustworthy and needed by our people,\u201d she wrote.
\nSuch eleventh-hour efforts made a surprising windfall for the tax amnesty program, plagued by lackluster response when it launched on Jul. 1. As of Friday, the government collected IDR97.1 trillion (USD7.45 billion) in income from penalty fees, representing 58.85 percent of its target.
\nAmong other benefits, the first phase of the tax pardon promised tariff rates as low as 2 percent for assets that had been reported by Sept. 30. Around IDR135 trillion (USD10.4 billion) in assets have been repatriated by the end of the month.
\nMore: Invest in real estate, tax amnesty participants in Indonesia urged
\nThe first phase of the program has seen 347,033 participants. The current phase of the program\u00a0will end in December, with tariff rates set as low as three percent.
\nExperts are urging the government to funnel the repatriated funds into sound investments. \u201cWhat is most important is where the funds is to be invested,\u201d The Association of Indonesian Employers chairman Hariyadi Sukamdani told Antara. \u201cThey would not help in driving the economy if they are to be put in banks. Therefore, the government should identify the projects either infrastructure or public housing projects or to help or small and medium enterprises.\u201d
\nPresident Joko Widodo has said he will direct\u00a0funds from the tax amnesty to state infrastructure projects. Widodo invited big-profile entrepreneurs to dinner at the State Palace on Sept. 22 to persuade more sign-ups for the amnesty.
\nThe tax amnesty has attracted affluent participants from various sectors of Indonesian society, including Tommy Suharto, son of former president Suharto, and Eric Thohir, owner of the Inter-Milan and DC United soccer clubs.
\nRead next: Indonesia to develop 10 \u201cBali-like destinations\u201d to attract Chinese investors
\n
\nSource : property-report.com
\nRead more…Indonesians make last-ditch application for tax amnesty<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The queues ran long and late into the night Traffic in Jakarta. Kichigin\/Shutterstock Around 2,750...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-28509","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7pP","jetpack-related-posts":[{"id":23703,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/invest-in-real-estate-tax-amnesty-participants-in-indonesia-urged\/","url_meta":{"origin":28509,"position":0},"title":"Invest in real estate, tax amnesty participants in Indonesia urged","date":"August 23, 2016","format":false,"excerpt":"\r Or face \u201chell,\u201d Finance Minister warns View of Surabaya City, Indonesia. Image credit: Andreas Hie\/Shutterstock Those granted amnesty under the Indonesian government\u2019s program of tax repatriation are being encouraged to pour their money back into real estate. At a seminar in Jakarta on Friday, Financial Services Authority head Muliaman\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34232,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesias-tax-amnesty-pumps-confidence-back-into-property\/","url_meta":{"origin":28509,"position":1},"title":"Indonesia\u2019s tax amnesty pumps confidence back into property","date":"November 14, 2016","format":false,"excerpt":"\r New infrastructure developments will open up opportunities A promising future for Indonesia\u2019s real estate market. Image: Naruedom Yaempongsa\/Shutterstock By Todd Lauchlan The hottest topic in Indonesian politics right now is undoubtedly the tax amnesty program. Despite early reports that \u201cconfessions\u201d and both domestic and repatriated funds were only trickling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29481,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-joy-of-tax-3-things-weve-learned-about-real-estate-taxes-in-indonesia\/","url_meta":{"origin":28509,"position":2},"title":"The joy of tax: 3 things we\u2019ve learned about real estate taxes in Indonesia","date":"October 11, 2016","format":false,"excerpt":"\r Tax amnesty, tax havens and luxury taxes in Indonesia \u2013 it\u2019s all going on Africa Studio\/Shuttershock Tax, the second most interesting word in the English language ending with \u2018x\u2019, is cropping up in Indonesian property news a lot lately. With current growth figures nothing to celebrate \u2013 a far\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28767,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty-2\/","url_meta":{"origin":28509,"position":3},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"October 6, 2016","format":false,"excerpt":"\r Lower than expected liquidation since the introduction of the tax amnesty program The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically been amongst the largest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27891,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-market-unaffected-by-indonesian-tax-amnesty\/","url_meta":{"origin":28509,"position":4},"title":"Singapore home market unaffected by Indonesian tax amnesty","date":"September 30, 2016","format":false,"excerpt":"\r Indonesian property holdings in Singapore have seen lower than expected\u00a0liquidation since the introduction of the TAS. The implementation of the Tax Amnesty Scheme (TAS) in Indonesia has not had any material impact on Singapore\u2019s residential segment, said Credit Suisse in a report. Credit Suisse noted that Indonesians have historically\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23027,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-indonesia-be-se-asias-new-tax-haven-paradise\/","url_meta":{"origin":28509,"position":5},"title":"Will Indonesia be SE Asia\u2019s new tax-haven paradise?","date":"August 16, 2016","format":false,"excerpt":"\r Several islands in Indonesia and Malaysia may share the spotlight with Singapore Dawn over Bintang, Indonesia. Image credit: julfran (Flickr) To meet its infrastructure targets and bridge a growing budget deficit, the Indonesian government is discussing the possibility of establishing tax haven jurisdictions in two of its islands. Coordinating\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/28509"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=28509"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/28509\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=28509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=28509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=28509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}