SINGAPORE: Ministry of Finance through the Expert Staff for Tax Compliance Suryo Utama says the origin of repatriation and declaration of foreign assets is dominated by six countries. According to Suryo, Singapore is the country wherein most of these funds come from; the rests are coming from Australia, British Virgin Islands, the Cayman Islands, China and Hong Kong.
Singapore records the biggest in both depositing of repatriated funds and foreign assets declaration amounting to respectively IDR84.52 trillion and IDR751.19 trillion. “The origin countries of repatriated funds and foreign [assets] declaration are six and the largest repatriation and foreign declaration is from Singapore,” he said at the Head Office of the Tax Directorate General, Jakarta, Wednesday (3/29/2017). He continued for repatriated funds the second-biggest country is Cayman Islands with IDR16.51 trillion, Hong Kong IDR16.28 trillion, Virgin Islands IDR6.58 trillion and China IDR3.65 trillion. Meanwhile, for foreign assets declaration the second highest position after Singapore is the British Virgin Islands with IDR76.92 trillion, Hong Kong with IDR56.27 trillion, the Cayman Islands with IDR52.86 trillion and Australia IDR41.15 trillion.
