10/14/2016

Government will Directly Approach Large Taxpayers who Stash Money in Switzerland

Government will Directly Approach Large Taxpayers who Stash Money in Switzerland


Through general directorate of taxation, government seeks to directly talk to large taxpayers who stash moeny in switzerland. According to report of tax authority, it's really hard to repatriate fund from switzerland though the ruling on tax amnesty program already started its second period since october 1th, 2016.

Yustinus prastowo, from tax analyst center even claimed that there is taxpayer who tries to repatriate Rp 150 trillion from switzerland yet incapable due to policy of financial action task force(FATF) who still consider the money stashed as illegal allegedly money laundry.

Since the first period of tax amnesty to the current ruling on second period, total of repatriated fund from foreign money surged in is only 13% from total of indonesian money abroad or around Rp 137 trillion. There is not repatriation however from switzerland.

Switzerland is recognized as the country which has no commitment for the openess of information of financing. Due to this, all surged in or money out from that land of milk country is suspicion as money laundry by FATF.

Government through finance minister has made approach to FATF to ensure the accountability of indonesian money in switzerland. There are big amount of money in that land of milk country since the era of soeharto of which it is the favorite destination of indonesian wealthy to conceal their money.

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