TEMPO.CO, Jakarta - Finance Minister Sri Mulyani Indrawati said that three tax haven countries have signed an agreement to work with the Indonesian government. The deal between Indonesia and the three tax havens countries, namely Singapore, Hong Kong, and Switzerland, is aimed at preventing tax evasions and tax avoidances.
The agreement was signed during the G20 summit in Hamburg, Germany, last week.
As quoted by the Cabinet Secretariat yesterday, Sri Mulyani said that the three countries have requested a meeting to explain that they would follow the applicable international standards related to the information exchange and tax crime prevention.
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Sri Mulyani predicted that as much as Rp1,000 trillion worth of assets owned by Indonesian nationals remain parked overseas. According to Sri Mulyani, almost 60 percent of the assets are parked in Singapore. She expressed her appreciation to Singapore willing to follow international standards and work with the Indonesian government to prevent tax avoidances.
“It’s a positive thing. I will conduct follow-ups so that we can gain all of the benefits,” Sri Mulyani said.
Through the automatic exchange of information (AEoI), Sri Mulyani added, as many as 190 countries agreed to participate in the tax crime prevention initiative.
During a declaration signing at the Finance Ministry’s Tax Directorate General (Tax DG), last week, Indonesia and Swiss declared their readiness to exchange financial information for taxation purposes. The declaration was signed by Tax Director General Ken Dwijugiasteady and Swiss Ambassador to Indonesia Yvonne Baumann.
During a press conference, Baumann said that the AEoI is a global standard design by country members of the Organization for Economic Cooperation and Development (OECD).
ANGELINA ANJAR | FERY F
