{"id":96930,"date":"2016-08-08T13:30:56","date_gmt":"2016-08-08T06:30:56","guid":{"rendered":"https:\/\/setkab.go.id\/?p=96930"},"modified":"2016-08-09T16:25:33","modified_gmt":"2016-08-09T09:25:33","slug":"president-jokowi-hopes-overseas-funds-can-be-repatriated-soon","status":"publish","type":"post","link":"https:\/\/setkab.go.id\/en\/president-jokowi-hopes-overseas-funds-can-be-repatriated-soon\/","title":{"rendered":"President Jokowi Hopes Overseas Funds Can Be Repatriated Soon"},"content":{"rendered":"
\"Photo<\/a>

Photo caption: President Jokowi at the Dissemination of Tax Amnesty Program in Bandung (8\/8). (Photo by: Public Relations Division\/Fitri)<\/p><\/div>\n

\u00a0<\/em>President Joko \u0091Jokowi\u0092 Widodo said that many countries are now experiencing economic instability.<\/p>\n

Some countries post a declining economic growth by 4 percent, some have minus growth (minus 3, minus 0.97) and even Indonesia\u0092s neighboring countries are experiencing negative economic growth by 1 \u0096 1.5 percent.<\/p>\n

\u0093What are the consequences? Almost all countries are now competing to win investment. Almost all countries are now competing to have repatriated funds. Indonesia is no exception. We also want as much as repatriated funds,\u0094 President Jokowi said at the dissemination of the Tax Amnesty Law at Ballroom Hotel Intercontinental, Bandung, West Java,on Monday (8\/8).<\/p>\n

Nevertheless, President Jokowi added Indonesia has many funds but a great deal of it is not kept in the country. President Jokowi also said that he knows information on the funds kept abroad such as in Hong Kong, Singapore, Swiss, and some other countries.<\/p>\n

With the Law on Tax Amnesty, President Jokowi hopes the funds can be repatriated to Indonesia and can be used to build the country.<\/p>\n

\u0093Therefore, we\u0092ve been working hard so the money can be returned to Indonesia. That\u0092s why we provide legal basis, not only a government regulation or a presidential regulation, but also a law with a certain legal force, that is Law on Tax Amnesty,\u0094 the President said.<\/p>\n

The Government, President Jokowi added, hopes that Law on Tax Amnesty can bring concrete benefits for the people and the state. The President added that the funds from this Tax Amnesty program is very needed by the Government to build infrastructures that needs a budget of around Rp4,900 trillion.<\/p>\n

\u0093We are building infrastructures and we need Rp4,900 trillion. However, we can only provide Rp1,500 trillion from the State Budget so we still need Rp3,400 trillion. How do we get the money? It\u0092s from inflow of repatriated funds from this Tax Amnesty program,\u0094 the President said, adding that the Government continues to build infrastructures because Indonesia does not want to lose the competition with other countries.<\/p>\n

On that occasion, President Jokowi reminded that Indonesia\u0092s logistic costs is 2.5 times bigger than those in Singapore or Malaysia because Indonesia\u0092s infrastructures are not ready.<\/p>\n

\u0093We still lack roads, airports, seaports,so prices of goods are expensive. Therefore, we continue to build infrastructures because we want to compete with other countries,\u0094 the President said.<\/p>\n

In addition to provide funds to build infrastructures, President Jokowi said that the Tax Amnesty program is also expected to boost Rupiah exchange rate.<\/p>\n

According to the President, before funds from the Tax Amnesty program come to the country, in the first quarter of 2016, Indonesia\u0092s economic growth reaches 4.94 percent, while in the second quarter of 2016, the growth reaches 5.18 percent.<\/p>\n

\u0093Once the money from the Tax Amnesty program have come, we will get to see the improvement of our economy,\u0094 the President said.<\/p>\n

President Jokowi said that similar Tax Amnesty programs were once implemented in 1964 and in 1984 it was not successful. In 1964, it failed because of rebellions, while in 1984 it was not successful because of oil and wood resources booming issues.<\/p>\n

\u0093Now we have the momentum, be it from political supports and external momentums, namely information transparency among banks, among countries in 2018,\u0094 the President said, adding that with this momentum, no one can hide their wealth because all financial institutions, both at home and abroad, are already transparent.<\/p>\n

\u0093So for those of you who have deposited abroad, I would like to remind you that this is the last Tax Amnesty program. We have transparency among countries. Even before this, I have alreadyhad information. So once again, this is the last Tax Amnesty program,\u0094 the President said.<\/p>\n

Also joining the President at the event were First Lady Ibu<\/em>Iriana Jokowi, Minister of State Secretary Pratikno, Governor of Bank Indonesia Agus Martowardojo, Minister of Finance Sri MulyaniIndrawati, Minister of State-owned Enterprises RiniSoemarno, Attorney GeneralPrasetyo, Head of the Financial Services Authority (OJK) MuliamanHadad, and Director General of Taxes of the Finance Ministry Ken Dwijugiasteadi.\u00a0(FID\/RHD\/ES)<\/strong>(EP\/YM\/Naster)<\/strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0President Joko \u0091Jokowi\u0092 Widodo said that many countries are now experiencing economic instability. Some countries post a declining economic growth by 4 percent, some have minus growth (minus 3, minus 0.97) and even Indonesia\u0092s neighboring countries are experiencing negative economic growth by 1 \u0096 1.5 percent. \u0093What are the consequences? Almost all countries are now […]<\/p>\n","protected":false},"author":43,"featured_media":96931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[77],"tags":[],"class_list":["post-96930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nPresident Jokowi Hopes Overseas Funds Can Be Repatriated Soon - Sekretariat Kabinet Republik Indonesia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/setkab.go.id\/en\/president-jokowi-hopes-overseas-funds-can-be-repatriated-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"President Jokowi Hopes Overseas Funds Can Be Repatriated Soon - Sekretariat Kabinet Republik Indonesia\" \/>\n<meta property=\"og:description\" content=\"\u00a0President Joko \u0091Jokowi\u0092 Widodo said that many countries are now experiencing economic instability. 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