Joining Indonesia tax amnesty in Singapore won't spur probe: Indonesia finance minister

September 16, 2016 1:36 AM EDT

Tourists stand at a promenade across the water from the Marina Bay Sands integrated resort in Singapore June 22, 2010. REUTERS/Vivek Prakash/File Photo


Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

JAKARTA (Reuters) - Singapore has given assurances that Indonesians declaring assets in the city-state as part of Jakarta's tax amnesty will not have their participation itself considered a suspicious act, Indonesia's finance minister said.

Sri Mulyani Indrawati said on Friday she got the assurance from Deputy Prime Minister Tharman Shanmugaratnam, who she called after Reuters reported on Thursday that private banks in Singapore are sharing with a local police unit dealing with financial crime the names of clients joining the amnesty.

"Under tax amnesty rules, an Indonesian who owns an account in Singapore and wants to join the amnesty should not be considered as suspicious. There is a law here for that, it is not an illegal act," Indrawati told reporters.

"There is no reason to be afraid. Joining the tax amnesty is a good action, it is legal and protected by law," she added.

(Reporting by Hidayat Setiaji; Writing by Gayatri Suroyo; Editing by Richard Borsuk)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Add Your Comment