REPUBLIKA.CO.ID, MEDAN -- President Joko Widodo (Jokowi) has promised to directly supervise the implementation of the tax amnesty program so that it runs as expected and is not abused.
Popularizing the Tax Amnesty Law among businessmen and taxpayers in North Sumatra on Thursday, the President said he would set up a special task force to supervise the implementation of the tax amnesty program.
The special task force will directly report to the head of state even though the Ministry of Finance will also set up a team to monitor the implementation of the program.
President Jokowi strongly desires to make the tax amnesty program a success and consequently, the relevant ministries are being asked to go all out in explaining to the public that the newly endorsed tax amnesty law is for the greatest good of the Indonesian people.
Regarding the request for a judicial review of the tax amnesty law filed with the Constitutional Court (MK), President Jokowi stated that he had no problem with it because it is part of the democratic process.
"They always sue any law in the MK," he noted while on an initiative to spread word about the law at an event which was also attended by Finance Minister Bambang Brodjonegoro, Bank Indonesia Governor Agus Martowardojo and Chairman of the Financial Service Authority (OJK) Muliaman Hadad.
President Jokowi assured that he was serious about the tax amnesty program because he was aware of the big benefits it will yield for the country's economic progress.
Once the law yields results, it will shore up the value of the local currency rupiah against foreign currencies as funds will flow in.
It will also increase the country's foreign exchange reserves, since funds hitherto parked abroad by Indonesian businessmen will flow in.
Over the past one month, ahead of the implementation of the tax amnesty program, about US$6 billion worth of funds have been repatriated, thus indicating that the program was proceeding positively as envisaged.
Also, in another positive sign, the stock composite index prices continued to move upward. Businessmen and taxpayers in the country are expected to take advantage of the tax amnesty, particularly because such a scheme may be launched only once.
"This is the last chance. After this, there are not likely to be any tax amnesty program," he warned.
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