The Jakarta Post
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.
Under the AEOI framework tax auditors will soon be able to check with tax authorities in Singapore, Hong Kong and ...