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Govt picks 54 financial institutions to manage repatriated assets
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Finance Minister Bambang Brodjonegoro (second left) gives a press briefing with Deputy Finance Minister Mardiasmo (left), Bank Indonesia deputy governor Perry Warjiyo (second right), Financial Service Authority (OJK) commissioner for capital market supervision Nurhaida at the ministry's office in Central Jakarta on June 29. (The Jakarta Post/Sepsha Dewi R.)
T
he government has appointed 18 banks, 18 investment managers and 18 securities companies as the gateways for the expected trillions of rupiah in repatriated assets in the tax amnesty program.
The government has also introduced eight investment instruments that can be used by people who repatriate funds. The instruments have a minimum three-year maturity.
"It can be via the appointed banks, investment managers and securities companies. They will cooperate with the tax office and regularly report updates on the tax amnesty program," said the Finance Ministry's treasury director general, Robert Pakpahan, on Monday in Jakarta.
He further explained that people who wanted to repatriate funds must open accounts in appointed trustee banks before shifting their assets to investment instruments in the amnesty program. "We require them to open escrow accounts and the investment for them will be separate from other ordinary investments," he said.
The eight instruments are government bonds (SUN), state-owned enterprises (SOEs) bonds, government-owned financial institutions bonds and five financial investment products issued by trustee banks.
The government will also provide tax amnesty participants with bonds issued by private companies but tightly supervised by the Financial Services Authority (OJK) as well as infrastructure investments through cooperation between the government and business entities. (ags)
Trustee banks for tax amnesty
- PT Bank Central Asia
- PT Bank Rakyat Indonesia
- PT Bank Mandiri
- PT Bank Negara Indonesia
- PT Bank Danamon Indonesia
- PT Bank Permata
- PT Bank Maybank Indonesia
- PT Bank Panin
- PT Bank CIMB Niaga
- PT Bank UOB Indonesia
- PT Bank DBS Indonesia
- PT Bank Mega
- PT Bank Bukopin
- PT Bank Syariah Mandiri
- BPD Jawa Barat & Banten
- Citibank N.A
- Standard Chartered Bank
- Deutsche Bank AG
Non-bank financial institutions for tax amnesty
- PT Sinarmas Sekuritas
- PT Panin Sekuritas
- PT CLSA Indonesia
- PT Mandiri Sekuritas
- PT CIMB Securities Indonesia
- PT Trimegah Securities
- PT RHB Securities Indonesia
- PT Daewoo Securities Indonesia
- PT Bahana Securities
- PT Indo Premier Securities
- PT UOB Kay Hian Securities
- PT BNI Securities
- PT Sucorinvest Central Gani
- PT Danpac Sekuritas
- PT Panca Global Securities
- PT MNC Securities
- PT Pacific Capital
- PT Mega Capital Indonesia
- PT Pratama Capital Indonesia
- Schroder Investment Management Indonesia
- Eastpring Investments Indonesia
- Manulife Aset Manajemen Indonesia
- Bahana TCW Investment Management
- Mandiri Manajemen Investasi
- BNP Paribas Investment Partners
- Batavia Prosperindo Aset Manajemen
- Danareksa Investment Management
- BNI Asset Management
- Panin Asset Management
- Ashmore Asset Management Indonesia
- Sinarmas Asset Management
- Trimegah Asset Management
- Syailendra Capital
- PNM Investment Management
- Ciptadana Asset Management
- Bowsprit Asset Management
- Indosurya Asset Manajemen.
