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House to pass tax amnesty bill on Tuesday: Luhut
After six months of deliberations, the House of Representatives is rushing to pass the much-awaited tax amnesty bill to help the government patch holes in its state budget and pave the way for an unprecedented repatriation of billions of dollars kept overseas by wealthy Indonesians.
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Golkar Party chairman Setya Novanto (second left) with Golkar advisory board chief Aburizal Bakrie (second right) and Golkar executive chief Nurdin Halid (left) visit the State Palace to meet President Joko "Jokowi" Widodo on May 24. They visited the palace to inform the President about Golkar's extraordinary national meeting and convey its support for the tax amnesty bill. (Antara/Yudhi Mahatma)
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fter six months of deliberations, the House of Representatives is rushing to pass the much-awaited tax amnesty bill to help the government patch holes in its state budget and pave the way for an unprecedented repatriation of billions of dollars kept overseas by wealthy Indonesians.
Coordinating Political, Legal and Security Affairs Minister Luhut B. Pandjaitan said he had communicated with several political party leaders and received assurance that the bill would be passed sooner than later.
"Insya Allah [God willing] deliberations will conclude on Thursday morning for approval during the House's plenary session scheduled for Tuesday," Luhut told The Jakarta Post late on Wednesday.
The bill's deliberation has gained traction after the Golkar Party’s new leadership agreed to join President Joko "Jokowi" Widodo's ruling coalition.
The government earlier estimated that around Rp 2.7 quadrillion (US$195 billion) worth of assets were kept by wealthy Indonesians overseas and Rp 1.4 quadrillion of domestic assets had not been properly reported. It also expects to book additional revenue of over Rp 100 trillion (US$7.5 billion) from the tax penalty rate imposed on evaders that participate in the amnesty.
