Indonesia’s tax amnesty boosts bond appeal
Indonesia’s tax amnesty brought in revenue, which lowered the fiscal deficit and enhanced the appeal of government bonds, says Allianz Global Investor’s David Tan.
Indonesia
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Indonesia’s life premiums jump 28% in Q1
Premiums in the Indonesian life industry soared by 28% in the first quarter of this year, compared to the same period in 2016, according to latest data released from the Financial Services Authority (OJK).
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OCBC opens Indonesia wealth unit amid tax amnesty success
Singapore’s OCBC Bank has launched an onshore private banking business, spurred by Indonesia’s tax amnesty.
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Indonesia grants taxman new powers in emergency action
The president of Indonesia has signed emergency regulation giving the tax authority access to account information held by financial institutions months after $333bn in assets was disclosed under the country’s hugely successful amnesty programme.
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Indonesia hauls in a surprise $330bn from tax amnesty
Indonesia has raised more than $330bn (£265bn, €381bn) from at least 745,000 taxpayers as its tax amnesty approaches next week’s closing date of 31 March.
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EM countries target offshore wealth with tax amnesties
Bond holders look set to benefit from the tax amnesties offered by some emerging market countries that have realised that substantial wealth resides outside their borders which has never been declared for tax purposes, says Jan Dehn, head of research at Ashmore.
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Fiscal policy could drive Asian equities in 2017 – BlackRock’s Swan
A transition from monetary to fiscal policy, progress on reforms in the region and low valuations make Asian equities attractive in 2017, said Andrew Swan, head of Asian equities at Blackrock in Hong Kong.
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Brazil nets $15.7bn in tax amnesty
More than 25,000 individuals and 103 companies voluntarily declared offshore assets worth more than BRL169.9bn via a Brazilian amnesty, netting the taxman BRL50.9bn (£12.8bn, $15.7bn, €14.3bn) in taxes and penalties.
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Indonesia assures expats using amnesty over tax evasion threat
Indonesia’s government has reassured participants of its tax amnesty programme that they will not be prosecuted for tax evasion after it emerged last week that private banks in Singapore are sharing with police the details of wealthy clients using the programme.
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Allianz secures distribution rights with Malaysia’s Maybank
German insurer Allianz has signed a 10-year distribution deal with Malaysia’s Maybank to sell its life products from its retail branches in Indonesia.
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Korean insurer Hanwha to pump $134m into Indonesian expansion
Hanwha Life, South Korea’s second largest life insurer, is set to pump KRW150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.
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Baring AM: Indonesia equities to outperform
Indonesia’s equity market is likely to outperform other ASEAN countries, said Soohai Lim, director of Asian equities at Baring Asset Management.