Singapore: Singapore bankers see $30 bln flowing back to Indonesia

• Aug 04, 2016

Singapore: Singapore bankers see $30 bln flowing back to Indonesia

Thursday, 4 August 2016 – Indonesians who have stashed billions of dollars abroad over the years can now bring their hoard safely back home – literally, to a newly bought condo.

That’s the pitch from PT Intiland Development Tbk and other Indonesian property developers that aim to grab a slice of at least $30 billion expected to be brought back to Southeast Asia’s biggest economy under a tax amnesty programme implemented last month.

Intiland has launched a new marketing campaign featuring a bird soaring above high-rise towers, with the slogan: “Buy property with tax amnesty.”

“This is a positive momentum for the tax amnesty, which we will take advantage of as maximally as we can,” Intiland director Archied Noto Pradono told reporters last week. Read More?