Jakarta empowers tax offices to access bank accounts

Dhaka,  Wed,  24 May 2017
Published : 18 May 2017, 13:52:10
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Jakarta empowers tax offices to access bank accounts

FE Online Report
From now on, Indonesian tax offices can directly access bank accounts of the country’s citizens and foreigners.

The Indonesian government on Tuesday issued a regulation in this regard, according to a news report of Jakarta Post.

The regulation on financial information access for taxation purposes was signed by the country’s President Joko “Jokowi” Widodo on May 8, 2017.

Coordinating Economic Minister Darmin Nasution said: “We used to have a regulation only for accessing foreign bank customers. But now the regulation is for customers of both foreign and Indonesian banks.”

Under the law, the Directorate General of Taxation is allowed to access bank accounts without having to secure permits from the Finance Minister or Bank Indonesia governor.

So far, the tax officials of the country required to get permission from both the institutions before accessing a bank account.

- AK
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