News analysis

Data swop with Singapore gives leg-up to Jakarta taxman

PHOTO: REUTERS

A new financial data swop arrangement with Singapore is set to give Indonesia's taxman a much needed leg-up against tax-evaders who may have under-declared their assets in the city state, said experts.

The Automatic Exchange of Information (AEOI), which kicks in on Sept 30, entails a regular exchange of taxpayers' information, including details of their bank accounts and assets, so the respective authorities can take action against tax evasion.

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A version of this article appeared in the print edition of The Straits Times on September 21, 2018, with the headline 'Data swop with S'pore gives leg-up to Jakarta taxman'. Print Edition | Subscribe