Indonesia to Widen Crackdown on Tax Cheats as Amnesty Closes
- Amnesty unearths $355 billion of assets previously undeclared
- Government set for $9.5 billion windfall from tax penalties
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With Indonesia’s tax amnesty coming to an end, authorities are now setting their sights on those who didn’t participate and continue to evade taxes.
Officials plan to scrutinize credit-card data from banks and compare those with tax reports after the amnesty program uncovered more than $355 billion in previously undeclared assets. While the participants in the amnesty would be “supervised,” the rich or large taxpayers who didn’t take part would pay a much heavier price, including penalties of as much as 200 percent, Hestu Yoga Saksama, director for public relations at the Directorate General of Taxation, told reporters in Jakarta on Wednesday.