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Jakarta Post

Thohir brothers jump on tax amnesty bandwagon

  • Prima Wirayani

    The Jakarta Post

Jakarta   /   Wed, September 14, 2016   /  12:25 pm
Thohir brothers jump on tax amnesty bandwagon Erick Thohir (left) and Garibaldi "Boy" Thohir (right) talk to journalists after submitting their tax amnesty applications at the Sudirman tax office in South Jakarta on Sept. 14. (JP/Prima Wirayani)

Brothers and tycoons Erick Thohir and Garibaldi "Boy" Thohir have jumped on the tax amnesty bandwagon with other businesspeople by submitting their applications at the Sudirman tax office in South Jakarta.

Boy, coal mining giant Adaro Energy CEO and president director, and Erick, a media mogul under the banner of the Mahaka group, declared their individual assets to the tax office on Wednesday.

"As much as 70 percent of the declared assets are onshore, because most of ours are located in Indonesia," Boy told reporters after the submission.

However, both of them chose to not publicly disclose the value of their assets and refused to elaborate whether their offshore assets were going to be repatriated through the program.

The form filling process was hassle free, stated Boy, whose name appeared in data held by the US-based International Consortium of Investigative Journalists (ICIJ) for owning assets under special purpose vehicle (SPV) in tax-haven countries.

Backing his brother's statement, Erick urged other businesspeople to join the tax amnesty program as soon as possible, so that they could run a more transparent business. 

Earlier this month, conglomerate Sofjan Wanandi and property magnate James Riady of the Lippo Group publicly joined tax amnesty program and became the first wave of high-profile tycoons to join the program. (ags)