We are in the process of repatriating IDR 2 trillion to IDR 3 trillion more, but the (funds) are not in yet.
Bank Mandiri Agung Samosir|KATADATA

State-owned Bank Mandiri has pulled in IDR 70 billion of tax amnesty retribution charges as of last Friday. Mandiri is one of 77 banks designated as gateways to collect retribution fees from the tax amnesty program.

"I haven’t looked at the latest record yet, but as of Friday the total was close to IDR70 billion," Bank Mandiri President Director Kartika Wirjoatmojo said at the Coordinating Ministry for Economic Affairs building in Jakarta, Monday (8/8).

According to Kartika, the combined total of assets declared by tax amnesty participants has reached between IDR6 trillion and IDR7trillion. However, he was unsure whether all of those assets are located in Indonesia or are overseas. (Read: First Day of Tax Amnesty, Tax DG Claims High Enthusiasm)

Kartika said that Bank Mandiri has yet to open the gateway for taxpayers to bring home their overseas assets. This means that not a single rupiah of the funds had entered the country via Bank Mandiri.

Nevertheless, a number of tax amnesty participants residing abroad are planning to repatriate their assets to Indonesia. "We will open (the gateway) for overseas (assets). We are in the process of repatriating IDR 2 trillion to IDR 3 trillion more, but the (funds) are not in yet." (See Photo: Mass Euphoria for Jokowi’s Tax Amnesty)

So far, the government has not issued the technical rules on the placement of the repatriated funds. The Finance Ministry is still finalising the rules, and is planning to issue them soon.

Kartika received information that a Regulation of the Finance Minister on the matter will be signed in Bandung today. The signing will likely be witnessed by President Joko Widodo during the tax amnesty information event at the Bandung Intercontinental Hotel. (Read: Lengthy Discussion on Tax Amnesty Disbursement Scheme to Real Sector)

If everything goes according to plan, the regulation will be signed in Bandung, West Java today. Kartika said Bank Mandiri is ready to implement the rules. "We are ready. We have prepared the ID data processing for the lock-up period," he said. 

In July, the Tax Directorate’s Counselling, Services and Public Relations Director Hestu Yoga Saksama said that the amount of assets reported by tax amnesty participants stood at IDR1.78 trillion. From the declared assets, the retribution fees collected amounted to IDR60 billion.