Indonesia's Parliament passes new tax amnesty bill

Indonesia's Parliament has passed a tax amnesty bill aimed at drawing billions of funds from wealthy Indonesians abroad as well as tax evaders at home.

It would impose rates from 2 percent to 10 percent on tax evaders, compared to much higher standard rates.

Enterprises with up to 10 billion rupiah ($757,700) in assets would enjoy a 0.5 percent rate, while a 2 percent rate applies to enterprises with bigger assets.

Those with wealth abroad can repatriate from July to September and enjoy a 2 percent rate, while 3 percent applies to those who return through December and 5 percent for those returning by March 31, 2017.

Those declaring assets abroad without repatriating to Indonesia would be imposed 4 percent, 6 percent and 10 percent each for the same deadlines.