Indonesia central bank to issue more certificates in foreign currency for tax amnesty funds

By: | Published: June 29, 2016 3:30 PM

Indonesia's central bank will issue more certificates in foreign currency that tax amnesty participants can use as an alternative for their investment should they decide to repatriate money, its deputy governor said.

indonesia central bankBank Indonesia has previously said the tax amnesty could bring home billion of Indonesian money stashed offshore. (Reuters)

Indonesia’s central bank will issue more certificates in foreign currency that tax amnesty participants can use as an alternative for their investment should they decide to repatriate money, its deputy governor said.

Perry Warjiyo also told a news conference Bank Indonesia will take more money from its foreign exchange term deposit auctions.

Also Read: Indonesia central bank’s easing cycle to add up to 0.2 % to GDP this year: Official

At the same news conferece, authorities said repatriated funds from the tax amnesty programme can also be invested in commercial papers, mutual funds, real estate investment trusts and other instruments, as well as directly to the real sector.

Bank Indonesia has previously said the tax amnesty could bring home $42 billion of Indonesian money stashed offshore. Indonesia’s parliament passed the tax amnesty bill into law on Tuesday.

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