Now, DGT Can Access Mining Company's Financial Data

Sunday, 06 September 2020

Now, DGT Can Access Mining Company's Financial Data

JAKARTA. The Directorate General of Taxes (DGT) has collaborated with a number of state-owned mining companies or State-Owned Enterprises (BUMN).

Based on a written statement of DGT, there are five mining companies that are collaborating with the Tax Authority, such as PT Antam Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum, and PT Timah Tbk.

With the cooperation agreement that was signed on Friday (4/9), DGT can now access the financial data of these companies. Especially data related to taxation including, the company's transactions with third parties.

Using this data, it will be easier for DGT to monitor taxpayer compliance since the research and testing can now be done electronically. As for companies, this data integration is considered to minimize the risk of costly tax audits and disputes. 

Previously, DGT has also established similar cooperation with state-owned companies engaged in the financial industry. Data integration with these companies is one of the DGT's strategies in encouraging state revenue from the tax side.

For information, the realization of tax revenue from the mining sector in 2019 was recorded at IDR 66.12 trillion or 5.3% of the total tax revenue at that time. Meanwhile, until the end of July 2020, the realization of revenue from the mining sector was IDR 23.1 trillion.


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