Are Patriot Bond Buyers Legally Immune? Here's What Purbaya Says

TEMPO.CO, Jakarta - Finance Minister Purbaya Yudhi Sadewa spoke out about the claimed impunity of Patriot Bond and Merah Putih Bond investors, stating that only the funds flowing into the bonds are safe from criminal claims.

This is outlined under the Law No. 4 of 2026 concerning the revision of the Law on Developing and Strengthening of the Financial Sector (P2SK Law). "The correct translation is that the sources of the funds used to purchase the Patriot Bonds will not be tampered with. But if the buyer has other businesses, they can still be pursued (by authorities)," said Purbaya in Tanjung Priok, North Jakarta, on Tuesday, June 23, 2026.

The other assets owned by Patriot Bond buyers are also not automatically immune from legal action. Purbaya explained that the policy is expected to attract flow of funds into the country. "We can use it for development," he said.

Purbaya also highlighted the gap between the incentive for Danantara's bonds and tax amnesty. While tax amnesty provides relief by eliminating administrative sanctions and criminal tax penalties, the Danantara bond only protects the funds deposited in the instrument.

Legal protection for the purchase of Patriot Bond and Merah Putih Bond is stipulated in Article 50A paragraph 5 of Law Number 4 of 2026. "The state guarantees and protects the purchase of special debt instruments as referred to in paragraph (a) from prosecution under general criminal law, special criminal law including tax crimes, and from civil lawsuits," reads the article.

The following article mentions that the provision applies to transactions carried out in the primary market. Every purchase of specific debt instruments by investors is a valid transaction in the national financial system. The investors referred to include taxpayers who have participated in the tax amnesty program and voluntary disclosures of taxpayers in accordance with the provisions of the laws and regulations.

Read: Patriot Bond Buyers Protected From Tax Prosecution

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