Repatriated Fund from Singapore Raises, Singapore's Strategy Deadlock

The total of repatriated fund from singapore continues to rise significantly. The chairman of board commissioner of financial authority fervices(OJK) muliaman hadad emphasized the enthusiasm of indonesians citizen residing in singapore to join tax amnesty scheme despite the effort of that local authority to block the indonesians fund stashed in that country. 

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Muilaman said that the total of surged fund from singapore for the recent weeks has reached Rp 1.2 trillion meanwhile the total ransom fund is Rp 2 trillion. These are all from three banks that are associated with singapore's banks. 

OJK has called the singapore affiliated banks such as OCBC, NISP, UOB and DBS to clarify the truth about the step of singapore to defer the indonesian citizens there in tax amnesty scheme. All these banks approved that the singapore's cimmercial affairs department police unit indeed listed the suspicious transaction in orde to prevent the money laundry case among the countries. 

However this could not hinder the participation of indonesians there to join tax amnesty scheme.

Read  Tax Amnesty Misunderstanding,Implementation and Expectation

Singapore's Blocking strategy deadlock

Though singapore has clarified even through its deputy prime minister not to block tax amnesty scheme however there is discrepancy of the country if we trace back to its main policy. 

It is likely common truth that indonsian who stash money there are to avoid taxes but neverhtheless legal procedure on money was not a matter for singapore that the country is open to let money store no matter of what they ascribe. In some cases of corruption case, there are the list of criminals money laundery who fled to that country from indonesia and it's hard for indonesia to repatriate those criminals because the policy of singapore is open for all. Not least to say provided they bring money, they can be given singapore citizen status. 

Now how come singapore reasons out the list of indonesian who join tax amnesty meant to prevent money laundry?

This sounds illogical. Means to say, it is clear aiming to threthen the indonesians citizen not to withdraw money from singapore banks. Take into not that almost 40% of singapore banks asset comes from indonesian money stashed there. Now do you think, singapore's proposition is logical and true?

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