Indonesia and Singapore will exchange financial data to curb tax evasion

Indonesia has met all requirements, including confidentiality and data protection safeguards, to kick-start the arrangement on Sept 30.
Indonesia has met all requirements, including confidentiality and data protection safeguards, to kick-start the arrangement on Sept 30. PHOTO: BLOOMBERG

Indonesia and Singapore will start exchanging financial data on taxpayers by the end of this month, with an eye on cracking down on tax evasion.

Indonesia has met all requirements, including confidentiality and data protection safeguards, to kick-start the arrangement on Sept 30, the tax office's spokesman Hestu Yoga Saksama told The Straits Times.

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A version of this article appeared in the print edition of The Straits Times on September 14, 2018, with the headline 'Indonesia and S'pore will exchange financial data to curb tax evasion'. Subscribe