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Jakarta believes Singapore supports Indonesia's tax amnesty
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Neighboring city-state Singapore at sunset. (Shutterstock/File)
D
espite recent reports that Singaporean banks are sharing the names of their clients embracing Indonesia’s tax amnesty with the local police, the State Palace believes the neighboring country will not hinder the implementation of the program.
Cabinet Secretary Pramono Anung called on Indonesian taxpayers who have money stashed in Singapore to not to be afraid of participating in the tax pardon. He rejected reports that participation in the program would be considered tax evasion in the neighboring country.
He explained that Finance Minister Sri Mulyani Indrawati had communicated with her counterpart in Singapore about the issue. In addition, during a meeting at the ASEAN Summit last week, the Singaporean finance minister and prime minister assured attendees that the country was making no attempts to hinder the tax amnesty program.
"Thus, anyone who puts their assets in Singapore and wants to join the tax amnesty, whether in the form of assets repatriation or declaration, please do not be afraid because the applicable law is the Indonesian tax regulation," Pramono said in Jakarta on Friday.
Meanwhile, Finance Minister Sri Mulyani also reiterated that the Singaporean government had told her that it had asked Singaporean banks to facilitate the participation of their high-wealth Indonesian customers in the program.
"There are four Singaporean banks where Indonesian high-wealth individuals put their money. They were asked to facilitate and provide ease for customers joining the tax amnesty and they also confirmed the reported transactions were not classified as suspicious," she said. (ags)
