August 22 2016
The government has issued a supporting regulation for the tax amnesty aiming to lure back Indonesian assets and business that are kept through special purpose vehicle (SPV) companies abroad.
Finance Minister Sri Indrawati said the Finance Ministerial Regulation was issued on Friday to persuade holders of such assets to join the tax amnesty program by offering value-added tax exemptions for those who transfer their assets and financial businesses back to the country.
“With the tax amnesty, taxpayers are expected to declare or repatriate their assets through the overseas SPV companies, as well as shift their business base to Indonesia,” she said in Jakarta on Monday.