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Bank Mandiri to use branches overseas for repatriated funds
State lender Bank Mandiri will maximize the use of its branches abroad to help facilitate repatriated funds to support to the government’s tax amnesty policy.
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Bank Mandiri president director Kartika Wirjoatmodjo (Kompas/Agus Susanto)
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tate lender Bank Mandiri will maximize the use of its branches abroad to help facilitate repatriated funds to support the government’s tax amnesty policy.
“Surely, we will use our branches located in designated cities, as payment gateways,” Bank Mandiri president director Kartika “Tiko” Wirjoatmodjo told The Jakarta Post at the Finance Ministry on Monday.
Bank Mandiri and Bank Negara Indonesia (BNI) are the only banks with branches in cities designated by the tax office as submission points, i.e. Singapore, Hong Kong and London, among nine banks authorized by the ministry to receive the repatriated funds.
Bank Mandiri hopes to collect more than Rp 100 trillion (US$ 7.62 billion) from the tax amnesty program.
Minister Bambang Brodjonegoro said earlier that the designated banks would be authorized to accept the repatriated funds before they were channeled into government bonds, time deposits or real sectors such as property, trade and manufacturing. (dmr)
