Purbaya on Patriot Bond: If You Have a Lot of Money, Get in Quickly!
Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa is urging all citizens with substantial wealth to quickly invest in the Patriot Bond and Merah Putih Bond instruments owned by BPI Danantara.
“So, if you have a lot of money, get in there quickly. As I said, I am giving you six months to enter,” Purbaya stated when met at Tanjung Priok Port on Tuesday (23/6/2026).
Purbaya also addressed the issue of legal and tax protection. He affirmed that legal protection is provided regarding the source of funds used to purchase the Patriot Bond and Merah Putih Bond.
“The correct interpretation is that the money used for the Patriot Bond will not have its source scrutinised. However, if he has other businesses, those can still be pursued. If he conducts a business that… But the money that goes in there is safe,” Purbaya added.
When asked by reporters about risks related to money laundering, Purbaya assessed that the government wants funds that have been kept abroad to return to the country. He acknowledged there is some loss from this scheme. However, he is confident the repatriated money can be used for development purposes in Indonesia.
“Rather than the money staying abroad continuously. Let it enter the system, even though there is a slight loss. But, in my view, the simple point is the money enters our economy. We can use it to build,” he explained.
Regarding tax protection, he stressed it only applies to the money placed into the Patriot Bond and Merah Putih Bond.
“Only the money that goes in; the money outside is up to them,” he said. However, he objected to the scheme for purchasing the Patriot Bond and Merah Putih Bond being labelled a form of ‘Tax Amnesty’. In the context of Tax Amnesty, all incoming money is tax-free. In the placement of these instruments, not everything is exempted.
“Tax amnesty means everything is free. This is not. Only the money that goes in there (the Patriot Bond),” Purbaya stated.
“But if he has a company and all sorts of things, he is examined as usual, but the money that goes in there is safe. However, his company is not immune. So, it is not like Tax Amnesty,” he clarified.
This protection is enacted in Article 50A of Law Number 4 of 2026, which revises Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK).
“The state guarantees and protects the purchase of special debt securities instruments as referred to in paragraph (a) from prosecution under general criminal law, special criminal law including tax crimes, and from civil lawsuits,” states Article 50A paragraph (5) of the P2SK Law.
Furthermore, paragraph (6) stipulates that data and information on the purchase of Patriot Bond and Merah Putih Bond cannot be used as a basis for tax assessment or as legal evidence in court. Paragraph (7) then emphasises that this special treatment applies to transactions in the primary market.
The subsequent paragraph also grants authority for Patriot Bond and Merah Putih Bond investors to transfer and even use the debt securities as collateral. Investors in these debt securities can also participate in the tax amnesty programme.
“Investors as referred to in paragraph (4) include taxpayers who have participated in the tax amnesty programme and voluntary disclosure of taxpayers in accordance with the provisions of laws and regulations,” states paragraph (4) of Article 50A of the P2SK Law.
Moreover, Article 50A paragraph (9) mentions that investors in these special debt securities include taxpayers who have participated in the tax amnesty programme or the Voluntary Disclosure Programme (PPS).