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Serious Indon charges Sinkie banks evading tax

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24-07-2016, 12:00 AM

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Serious Indon charges Sinkie banks evading tax

An honorable member of the Coffee Shop Has Just Posted the Following:

http://www.indonesia-investments.com...shore/item7028

Tax Amnesty: Singapore Banks Eager to Keep Indonesian Assets Offshore
22 July 2016

Allegedly, several Singaporean banks try to keep Indonesian funds within the country by offering tax incentives to their Indonesian clients. These banks are concerned that Indonesia's tax amnesty program will lure taxpayers to repatriate their funds into Indonesia. Under Indonesia's amnesty program tax evaders obtain tax incentives (and impunity from prosecution) to declare and - if desired - repatriate their offshore funds into Indonesia. Although it is illegal to request Indonesian clients not to declare these assets to Indonesian tax authorities, it is legal to offer an incentive to keep the assets in Singapore.

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