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Tax Regulation Number PER-01/PJ/2015, which is supposed to be effective starting this year, has triggered controversy within the banking industry. This is mainly due to the new obligation for banks to disclose details on every customer’s tax payments on deposits or savings interest.
The Finance Minister needed to postpone indefinitely the enforcement of the regulation, although it might pose another question on Indonesia’s commitment to improving our overall accountability.
We undoubtedly acknowledge the fact that interest revenues people earned on their money in bank deposits are subject to tax, which banks are required to collect.
As of today, banks are only obliged to report the amount of tax they collect in a lump sum. This means that the tax authority does not know the detailed amount of tax that every person pays.
Is anyone affected by this?
Does anybody knows what banks are involved in this issues?
Tax Regulation Number PER-01/PJ/2015, which is supposed to be effective starting this year, has triggered controversy within the banking industry. This is mainly due to the new obligation for banks to disclose details on every customer’s tax payments on deposits or savings interest.
The Finance Minister needed to postpone indefinitely the enforcement of the regulation, although it might pose another question on Indonesia’s commitment to improving our overall accountability.
We undoubtedly acknowledge the fact that interest revenues people earned on their money in bank deposits are subject to tax, which banks are required to collect.
As of today, banks are only obliged to report the amount of tax they collect in a lump sum. This means that the tax authority does not know the detailed amount of tax that every person pays.
Is anyone affected by this?
Does anybody knows what banks are involved in this issues?
Does the Tax Authority Really Go Too Far with Your Bank Account
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