House Passes Regulation on AEoI

Jakarta, InfoPublik – Finance Minister Sri Mulyani Indrawati stated that the Government Regulation in Lieu of Law (Perppu) on Automatic Exchange of Information (AEoI) have been passed by the House of Representatives of The Republic of Indonesia (DPR RI) into Law (UU) through plennary meeting.

This passing is a concrete manifestation of the House’s support on the fulfillment of Indonesia’s commitment in implementing international agreement and reinforcement effort of tax revenue. 

“After being passed into law, Indonesia could assure the international world that Indonesia is capable and ready in implementing Automatic Exchange of Information by September 2018,” said Finance Minister Sri Mulyani Indrawati on the sidelines of the plennary meeting on Thursday (7/27).

Finance Minister reaffirmed what had been stated in the meeting with the House’s Commission XI about the that the security of finance information exchange and about the responsibility and circumspection in implementing Law on AEoI. Those things are  is important in order to make the to gain customers’ trust and loyalty comfortable in saving and investing their assets in financial agencies in Indonesia.

“This passing is both advantage and mandate for us, especially for Directorate General of Taxation (DJP). We will keep this mandate well. Improvement in DJP would continue to be made. We hope Indonesia’s tax ratio would be better,” she said.

The plennary meeting had three agendas, namely: the passing of Bill on Accountability on  2016 State Budget Execution, the passing of Bill on Revised State Budget for 2017, and the passing of the Government Regulation in Lieu of Law on AEoI. (Translator: Erik Limantara)