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Danamon ready to facilitate tax amnesty program
Private lender Bank Danamon has expressed its readiness to facilitate the tax amnesty program.
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All ready -- A teller serves a customer at a Bank Danamon branch in Jakarta. (Kompas.com/-)
Private lender Bank Danamon has expressed its readiness to facilitate the tax amnesty program. It is ready to prepare products to accommodate repatriated funds as the tax amnesty program is expected to attract billions of US dollars in assets.
Danamon vice president director Mulyadi Rahardja said the bank would act as a trustee for the tax amnesty program and manage repatriated funds.
"These are already in the pipeline. I think it's only a matter of time before these will be approved. We will accommodate and manage the repatriated funds. To facilitate the repatriated funds, we have prepared various investment products," Mulyadi told thejakartapost.com on Tuesday.
He was optimistic that within nine months, the tax amnesty program would attract capital inflow. However, he said, the bank had not yet set a target for how much of the repatriated funds would be absorbed from the tax amnesty program.
"We expect it [the absorbed funds] to be huge [...],” he said.
Mulyadi said Danamon warmly welcomed the tax amnesty program. Before the House of Representatives passed the tax amnesty bill last month, the bank held a customer gathering to introduce the program in 18 cities. Following the implementation of the program on July 1, the bank conducted a campaign in Jakarta, which will also be taken on the road to several other cities.
"We support this policy. We have a huge number of customers and a vast network in the country. We are in a good position to contribute to the tax amnesty program," Mulyadi said. (ebf)
