Logo of the Tax Directorate-General of the Indonesian Finance Ministry. Wikimedia Commons

 

The Jakarta Post-Sept 12

Indonesia is set to join the global treaty on the Automatic Exchange of Information (AEOI) on tax matters this month, and will then have virtually all the “high-caliber weapons” it needs to hunt down tax evaders — not just within the country but anywhere in the world, including tax-haven countries.

Law No. 9/2017 authorizes tax officials to access the financial accounts all of taxpayers. Officials also have a set of other government regulations that require companies, foundations and trusts to disclose their beneficial ownership. Yet, most important to increasing tax revenues within a short time is Government Regulation No. 36/2017, which imposes a maximum penalty of 90 percent income tax on assets discovered since March 2017, when the tax amnesty ended.

Read more at: http://www.thejakartapost.com/academia/2018/09/12/chasing-tax-evaders-worldwide.html

First published in: The Jakarta Post