APSN | Half of tax amnesty funds 'may go to owners' own companies'

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Half of tax amnesty funds 'may go to owners' own companies'

Jakarta Post - July 12, 2016

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Anton Hermansyah, Jakarta – Around half of the repatriated assets expected as a result of the tax amnesty are likely go to their owners own companies, a business representative believes.

Under the tax amnesty, repatriated assets can be invested in the capital market or in any company – public or private – including companies belonging to the fund owners, Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani told thejakartapost.com on Monday. "The businessmen will likely choose to invest in their own companies," Hariyadi added.

The owners of the repatriated funds would probably invest in property, which was one of the interesting sectors in the country, he said. "It will be good for the country if the assets are invested in property, because property is long-term investment," Hariyadi said.

Commenting on the move by NGO activists to file a request for a judicial review of the Tax Amnesty Law, Hariyadi said Apindo members supported the program and would derive benefits from it.

"Apindo is firm in its support for the tax amnesty, we are sure the businesspeople will submit as quickly as possible. We will start to disseminate [information on the policy to our members] on July 18," Hariyadi said.

Source: http://www.thejakartapost.com/news/2016/07/12/half-of-tax-amnesty-funds-may-go-to-owners-own-companies.html.