Wednesday, July 13, 2016

OJK preparing help desk and new regulation to receive repatriate funds

Photo Muliaman

JAKARTA (TheInsiderStories) - The Financial Services Authority (OJK) said that the agency, together with Indonesia Stock Exchange (IDX), is currently preparing a help desk to facilitate taxpayers wanting to apply for tax amnesty scheme offered by the government.

The tax amnesty help desk will be available at the bourse and in OJK’s branch offices across Indonesia.

Chairman of OJK Muliaman Hadad hoped that the help desk will be able to help taxpayers in providing information on tax amnesty and will answer technical questions on it.

According to him, several companies have shown their interest to declare and repatriate their cash and assets but need information to implement it.

For that, he said, OJK also will release some new regulations to help banks and fund managers to accommodate the repatriate funds. Bank or individual will be allowed to set up trustee funds while fund managers can create discretionary funds (KPD).

“We will make some changes to the KPD’s rules in order to make it be more flexible. In some cases banks can prepare trustee funds,” he stressed.

Otherwise, Senior Economic Minister Darmin Nasution explained the government, OJK and Bank Indonesia will join hand to manage the capital inflows will not disrupt the Indonesian economy and make Rupiah to be over valued. He recommends that part of the funds will be put as reserves. (*)