Amnesty asset outflow more trickle than torrent for SG PBs

5 October 2016 | 2 minutes read

Indonesia’s tax amnesty programme had been expected to make a significant dent in Singaporean private banks’ assets under management, but such fears may have been overblown going by a research note from RHB Securities. The programme’s first phase ended last week with the total amount of overseas assets declared by Indonesian taxpayers reaching Rp952 trillion (US$73.2 billion). Around 70% of…

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