Bukalapak teams up with stock exchange to help SMEs

Indonesia online marketplace Bukalapak.co has teamed up with the Indonesian Stock Exchange to help out small and medium enterprise owners join the tax amnesty program, reports The Jakarta Globe.

The partnership was cemented by the signing of a partnership agreement between Indonesian Stock Market Clearing House, the Indonesian Stock Exchange and the Indonesian Central Securities Depository.

Bukalapak was established in 2010 and helps SMEs sell on its marketplace. The company will put the information on the mechanism of the tax amnesty schemes on its website and forum to allow tenants hold a discussion, aiming to give them a better understanding of the issue.

Muhammaad Fajrin Rasyidi, Co-Founder of Bukalapak, comments,

This cooperation with IDX will give greater benefits to the entrepreneur of small and medium enterprises as they have limited information on tax amnesty. 

The government launched the implementation of the tax amnesty program on Monday, hoping to return funds invested overseas by wealthy Indonesians by offering a discount of taxation to funds repatriated by March 2017.

Assets need to be kept in the country for at least three years and can be invested in a variety of things such as stocks and mutual funds.

This is a good collaboration between the government and Bukalapak as the marketplace can facilitate platforms for small businesses to grow. The tax amnesty initiative rolled out by the government will aim to strengthen the currency.

A version of this appeared in The Jakarta Globe on July 20. Read the full version here.

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