Tax Amnesty Windfall Brightens Indonesia’s S&P Upgrade Odds

[vc_row][vc_column][vc_row_inner][vc_column_inner][mk_image src=”” image_size=”full” align=”center” margin_bottom=”30″][mk_fancy_title size=”35″ font_family=”none”]After netting more than $10 billion in revenue from its tax amnesty program, Indonesia may be a step closer to winning a much-coveted investment grade from S&P Global Ratings.[/mk_fancy_title][vc_column_text]The nine-month amnesty drive, which ended on Friday, led citizens to declare 4,866 trillion rupiah ($365 billion) of assets hidden from tax authorities. The success may help Southeast Asia’s largest economy win an upgrade from S&P, according to Oversea-Chinese Banking Corp. and DBS Group Holdings Ltd. An investment grade would boost the country’s appeal among conservative Japanese institutional investors, potentially boosting inflows by $3 billion to $5 billion over the next year, Goldman Sachs Group Inc. estimated in March.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][mk_padding_divider][vc_row_inner][vc_column_inner][vc_column_text]Source Article :[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]

Leave a Reply