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BI to issue regulation, products to facilitate tax amnesty program
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A woman consults a tax officer on the tax amnesty program at the Kembangan tax office in West Jakarta on July 19. (Antara Foto/Muhammad Adimaja)
B
ank Indonesia (BI) has strengthened its efforts to deepen the financial market by increasing investment and hedging products as part of its support for the tax amnesty program.
BI's executive director of communications Tirta Segara said BI fully supported the implementation of the amnesty program, which is expected to increase the government’s capacity to finance development programs.
"BI will issue a regulation on negotiable certificates of deposit [NCD] facilities, while creating a hedging product that has lower costs than the regular ones. More products will also be launched soon," he said in Jakarta on Thursday.
He further explained that specific measures to support the tax amnesty were in the pipeline.
BI's monetary policy executive director Juda Agung added that the central bank would also continue to coordinate with the government in the implementation of the tax amnesty, including encouraging people to repatriate their assets so they could be of benefit to the national economy. (ags)
