Tax DG Ready to Swap Information with Other Nations by September
TEMPO.CO, Jakarta – The Finance Ministry`s Tax Directorate General ensures all preparations have been completed before the implementation the automatic exchange of information (AEoI). The program is set to kick off in September this year.
“It’s ready; we can now just wait for the data. It will be done through the Financial Services Authority’s (OJK) system,” tax director general Robert Pakpahan said here on Thursday, August 30.
Not just internationally, the information exchange is also done domestically with local financial institutions. This system, said Robert, has been implemented since April 2018.
Since the beginning of the year, the Tax DG has been making sure that Indonesia is ready to participate in the AEoI.
There are four requirements for joining AEoI—including domestic legislation. Indonesia has issued Government Regulation in Lieu of Law (Perpu) No.1/2017 on the Financial Information Exchange. Another requirement is information and technology readiness.