JAKARTA. Directorate General of Taxation will create special system, which will facilitate the requests for banking data. To date, tax authority cannot directly access banking data, due to the data protection as stipulated under Law on Banking. The revision of Minister of Regulation related to the request for banking data has shifted the authority on banking data from BI (the Central Bank) to Financial Services Authority (FSA or OJK). The new policy also gives chance to tax authority to open banking data through electronic application. The previous ministerial regulation did not specify the request’s mechanism. The request should also be submitted through manual mailing correspondence.
Tax authority wants to access banking data
JAKARTA. Directorate General of Taxation will create special system, which will facilitate the requests for banking data. To date, tax authority cannot directly access banking data, due to the data protection as stipulated under Law on Banking. The revision of Minister of Regulation related to the request for banking data has shifted the authority on banking data from BI (the Central Bank) to Financial Services Authority (FSA or OJK). The new policy also gives chance to tax authority to open banking data through electronic application. The previous ministerial regulation did not specify the request’s mechanism. The request should also be submitted through manual mailing correspondence.