JAKARTA. The government will release a government regulation in lieu of law to disclose the data of banking customers. This is part of the requirement of the participation in Automatic Exchange of Information (AEoI) on taxation. The Minister of Law and Human Rights Yasona Laoly said, the issuance of the government regulation in lieu of law aims at preventing some issues related to the law aspects for implementing the data exchange. The issuance of the government regulation in lieu of law is essential, on the grounds that some laws, which are supposed to be the references for accessing the banking data, have been under the revision process. Those laws include the Law on the General Provisions on Taxation (KUP), the Law on the Income Tax, the Law on Value Added Tax, as well as the Law on Indonesia’s banking.
Bank secrecy would be disclosed
JAKARTA. The government will release a government regulation in lieu of law to disclose the data of banking customers. This is part of the requirement of the participation in Automatic Exchange of Information (AEoI) on taxation. The Minister of Law and Human Rights Yasona Laoly said, the issuance of the government regulation in lieu of law aims at preventing some issues related to the law aspects for implementing the data exchange. The issuance of the government regulation in lieu of law is essential, on the grounds that some laws, which are supposed to be the references for accessing the banking data, have been under the revision process. Those laws include the Law on the General Provisions on Taxation (KUP), the Law on the Income Tax, the Law on Value Added Tax, as well as the Law on Indonesia’s banking.