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Jakarta Post

Tycoons Sofjan Wanandi, James Riady apply for tax amnesty

  • Rendi Witular and Prima Wirayani

    The Jakarta Post

Jakarta   /   Fri, September 2, 2016   /  08:08 pm
Tycoons Sofjan Wanandi, James Riady apply for tax amnesty Tycoon Sofjan Wanandi (center) files a tax amnesty request at the tax office headquarters on Jl. Gatot Subroto in South Jakarta on Sept. 2. (JP/Rendi Witular)

Businessman Sofjan Wanandi and property magnate James Riady requested tax amnesty on Friday for their undeclared assets, representing what is hoped to be the first wave of high profile figures participating in what has become known as President Joko "Jokowi" Widodo's signature policy.    

Sofjan, Vice President Jusuf Kalla's chief economic advisor and the prime initiator of the program, applied for an amnesty on his personal wealth only, since the unreported assets of his business group and children would be declared separately.

"I am not only declaring my unreported assets, but also repatriating a big chunk of funds to be invested in Indonesia. I hope my example will encourage others to follow suit," said Sofjan, whose empire, the Santini Group, deals in automotive parts, infrastructure, natural resources, property development and services.

James Riady of Lippo Group, a property, media magnate, files a tax amnesty request at the tax office in Jl. Jend. Sudirman in South Jakarta on Sept. 2. (JP/Wienda Parwitasari)

Sofjan applied for the amnesty at the Finance Ministry's Directorate General of Taxation headquarters on Jl. Gatot Subroto, South Jakarta, while James opted to register his files at the tax office on Jl. Jend. Sudirman in South Jakarta.

"I appeal for other businessmen to follow suit," said James, whose father, Mochtar Riady, founded the Lippo Group.

James and Sofjan refused to disclose the amount of unreported assets to be covered by the amnesty. (evi)

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