April 25, 2016 / 4:15 AM / 3 years ago

Indonesia's planned tax amnesty could bring home $42 billion: central bank gov

Agus Martowardojo, Indonesia's Central Bank Governor, attends a press conference at the bank's headquarters in Jakarta November 17, 2015.REUTERS/Darren Whiteside

JAKARTA (Reuters) - A tax amnesty program planned by Indonesia’s government could potentially attract home 560 trillion rupiah ($42.38 billion) of assets stashed offshore, the central bank governor told a parliamentary commission on Monday.

The amnesty program could also increase the government’s tax revenue by 45.7 trillion rupiah, Governor Agus Martowardojo told the commission overseeing finance.

“The tax amnesty is part of an overhaul of the tax system. Therefore, it should lead to an improvement of people’s welfare,” he said.

Reporting by Hidayat Setiaji; Writing by Gayatri Suroyo; Editing by Richard Borsuk

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