Jakarta, hitclubapk3 Indonesia
—
Directorate General of Taxes (
DJP
) The Ministry of Finance can take a peek
digital account
and
electronic money
belonging to the Indonesian people starting 2026.
This authority is an expansion of access to financial information for tax purposes which will be regulated in the new finance minister’s regulation, replacing PMK Number 70/PMK.03/2017 concerning Technical Instructions regarding Access to Financial Information for Tax Purposes.
This new regulation will also renew Indonesia’s commitment to the international world, namely the signing of the Addendum to the CRS MCAA on November 19 2024.
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“Contains Indonesia’s commitment together with other signatory countries/jurisdictions to implement AEOI CRS (Automatic Exchange of Information on Financial Account Common Reporting Standard) based on the Amended CRS starting in the 2026 data year which will be exchanged in 2027,” quoted from the announcement made by the Director General of Taxes, Bimo Wijayanto, Wednesday (22/10).
The DJP emphasized that digital accounts and electronic money will only be included in the Draft Minister of Finance Regulation concerning Technical Instructions Regarding Access to Financial Information for Tax Purposes.This follows new standards implemented by the Organization For Economic Co-Operation and Development (OECD).
“Additional coverage of reported financial accounts, including: Certain Electronic Money Products (
Specific Electronic Money Products)
and Central Bank Digital Currencies (
Central Bank Digital Currencies)
,” said DJP.
On the other hand, the Directorate General of Taxes at the Ministry of Finance also added regulatory points to prevent duplication of AEOI CRS and Crypto-Asset Reporting Framework (CARF) reporting.
“Through this announcement, Financial Services Institutions, Other Financial Services Institutions and Other Entities are expected to have adequate time to identify and fulfill needs in order to implement the provisions of the Amended CRS,” concluded the announcement.
In PMK Number 70/PMK.03/2017 there is no mention of electronic money and digital accounts as types of financial accounts.Likewise in the latest revision, namely PMK Number 47 of 2024 concerning the Third Amendment to PMK Number 70/PMK.03/2017 concerning Technical Instructions Regarding Access to Financial Information for Tax Purposes.
Referring to the old rules in 2017, there are at least four benefits of exchanging financial information.
First,
prevent tax evasion.
Second,
prevent tax evasion.
Third
, preventing abuse of double taxation avoidance agreements by unauthorized parties.
Fourth,
obtain information related to taxpayers’ tax obligations.
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