Indonesia's black money scheme more successful than India's

But will this one-time windfall will lead to better tax compliance and a widening tax base?

Sai Manish  |  New Delhi 

Two similar tax amnesty schemes in two different nations and the outcome is nothing but similar. Around the same time in early 2016, both India and Indonesia introduced a tax amnesty scheme for all citizens who wished to declare their illegal income, pay tax on it and avoid prosecution. Indonesia introduced its tax amnesty scheme and provided a window between July 1, 2016 and March 31, 2017 for all residents and expatriates to report their undeclared wealth. Reports from Jakarta suggest that as of date, $342 billion has been declared. Most of the wealth declared is from within the ...

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Indonesia's black money scheme more successful than India's

But will this one-time windfall will lead to better tax compliance and a widening tax base?

But will this one-time windfall will lead to better tax compliance and a widening tax base? Two similar tax amnesty schemes in two different nations and the outcome is nothing but similar. Around the same time in early 2016, both India and Indonesia introduced a tax amnesty scheme for all citizens who wished to declare their illegal income, pay tax on it and avoid prosecution. Indonesia introduced its tax amnesty scheme and provided a window between July 1, 2016 and March 31, 2017 for all residents and expatriates to report their undeclared wealth. Reports from Jakarta suggest that as of date, $342 billion has been declared. Most of the wealth declared is from within the ... image
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