Singapore, Swiss, Hongkong to Expose Indonesian Nationals Tax Data

Tuesday, 11 July 2017 , 09:00:00 WIB -

Finance Minister Sri Mulyani. (ANTARA)

JAKARTA, GRES.NEWS – Finance Minister Sri Mulyani Indrawati said that "safe haven" countries where Indonesian national tax evaders escape to are ready to expose their tax data. In the G20 Summit, Sri Mulyani said that the countries have declared they’re willing to meet the international standards related to tax evasion and tax avoidance that become one of the recommendations of the G20 Summit in Hamburg, Germany.

"In the G20 Summit, three countries, which are Hongkong, Switzerland, and Singapore requested to meet and explained that they’re following the international standards, and they’re even ready to accept the Finance Ministry," Sri Mulyani said in a press conference with Foreign Affairs Minister Retno Marsudi at Hotel Steigenberger, Hamburg, Germany, Saturday (8/7).

The Finance Minister predicts that Indonesian nationals save Rp1,000 trillion abroad, and 60 percent of the money is in Singapore. The Finance Minister feels so grateful as Singapore has declared to follow the international standards related to tax avoidance, and they’re ready to start a bilateral agreement.

"This is positive, and I will follow it up so we can get all the benefits," Sri Mulyani explained.

Previously, Finance Minister Sri Mulyani appreciated the agreement made by the G20 Summit member nations who have the initiative to fight tax evasion and tax avoidance systematically and globally. Sri Mulyani compared the current situation with the situation 10 years ago, where she had to chase tax evaders, and other countries stated that it’s none of their business.

"Now, it’s a global agreement called an initiative, so tax avoidance prevention and Automatic Exchange of Information (AeOI) that's been recommended become a concrete step," Sri Mulyani said.

The Finance Minister added that being concrete means that every country signs the agreement to work together in the future, and it’s mandatory and becomes a format to maintain security and confidentiality of information about taxation. Sri Mulyani also said that Hongkong, Switzerland, and Singapore requested for a special meeting in the G20 Summit, and they explained they’ve met the international standards and even ready to accept the Finance Minister.

"As you know that we’ve implemented tax amnesty program where most taxpayers had their undisclosed money and property in Singapore, Hongkong, Australia, and countries like Switzerland. So, this is a concrete step that builds trust," said the Finance Minister.

According to the Finance Minister, if they want to escape and hide, there are 190 states, and we all have agreed not to allow them to hide their identity so a fair, good, and transparent global governance would come true. (dtc/mag)