JAKARTA. The Directorate General of Taxes (DGT) announced an update to the list of participating countries or jurisdictions and reporting destinations related to implementing the Automatic Exchange of Financial Account Information (AEoI).
The DGT announcement Number PENG-2/PJ/2024 states that the number of jurisdictions involved in AEoI with Indonesia has increased, both as participants and as reporting destination countries.
As a participating country, the number of countries involved in AEoI with Indonesia is now 112 or increased by 2 countries from the list released by DGT in April 2023.
Likewise, the list of AEoI reporting destination countries with Indonesia increased by two countries to 83 countries. Meanwhile, the two countries that have just been determined are Georgia and Ukraine.
This change is made because the DGT must adjust to the development of the signing of the Multilateral Competent Authority Agreement of Automatic Exchange of Information.
For information, AEoI is a financial information exchange program for tax purposes. There are two types of exchange: automatic exchange and exchange upon request.
To carry out the automatic exchange, the government requires the reporting financial institutions consisting of Financial Services Institutions (FSIs), other FSIs, and other entities to submit financial information to DGT.
Voluntary exchange is conducted automatically on a regular basis between jurisdictions bound by the Multilateral Competent Authority Agreement. Meanwhile, exchange based on request is conducted if there is a request from a jurisdiction to DGT or vice versa. (ASP/KEN)
