Expectations of A Tax Amnesty

Manggi Habir

Ramadan is normally a month of peaceful reflection. Instead, this year's holy month witnessed the unfolding of a series of worrying events, raising further concern and uncertainties across global markets. The impact of the United Kingdom's (UK) unexpected departure from the European Union (EU), which hurt the stock market and the pound sterling, has yet to fully play itself out.

Last week, global capital markets remained under pressure and the British pound sterling continued to take a beating. Rising market anxiety was also followed by a series of deadly shootings and suicide bombings across several countries, starting from the airports in Brussels and Istanbul, the markets in Baghdad, to the holy city of Medina, a coffee shop in Dacca and finally a police station in Solo. The perpetrators are suspected to be linked or sympathetic to the Islamic State of Iraq and Syria (ISIS), which appears to be exporting its conflict abroad, as its territory in Syria and Iraq come under attack.