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AEoI Implementation Is No Longer Manual; Special Application Used

Wednesday, 22 June 2022

AEoI Implementation Is No Longer Manual; Special Application Used

JAKARTA. Submission of financial data at the request of the Directorate General of Taxes (DGT) from Financial Services Institutions (LJK) and Other LJKs will use an electronic system through the Automatic Exchange of Information (AEoI) portal application.

The Exchange of Information (EOI) portal is an application developed by the DGT to administer and manage automatically submitted financial information, which is also used in cross-jurisdictional data exchange.

The submission of financial data is part of the AEoI program or the automatic exchange of financial data between DGT and LJKs and other LJKs.

There are two types of exchanges carried out between DGT and LJKs and other LJKs. First, automatic exchange and second, data submission at the request of the DGT.

So far, the provision of financial data at the request of the DGT consisting of information, evidence or information (IBK) is done manually, using postal or expedition services.

That is, starting with a request for data from DGT to LJK by mail. Then the LJK or other LJK will submit the data in the form of a soft copy in the form of a digital disc or flash disc.

However, this method is considered inefficient, both in terms of time and use of resources. Thus, the existence of the application will make the process of requesting and submitting data more efficient.

Data Format Standardization

Data submitted by LJK and other LJK through the EOI portal must also use the format that has been standardized by DGT, namely Extensible Markup Language (XML).

XML is a popular data exchange standard because it has several advantages, such as data being interpreted by computers.

In addition, XML is also a human-readable format and allows the sender and recipient of data to have the same expectations because it can describe the structure of the data. DGT also mentions that the XML data exchanged can be validated.


 



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