Indonesia hopes tax amnesty policy to be effective in June 2016

JAKARTA (REUTERS) - The Indonesian government hopes its much-vaunted tax amnesty policy will come into effect in June, the finance minister said on Tuesday (April 12).

South-east Asia's biggest economy has proposed in the tax amnesty bill lower tax rates for individuals who voluntarily declare untaxed wealth, hoping it may boost revenue by more than 100 trillion rupiah (S$10 billion) this year.

"If we don't have certainty on this soon, it will affect tax revenues this year," Finance Minister Bambang Brodjonegoro told a parliamentary commission in the first hearing on the policy.

The bill is pending parliamentary approval.