- The Global Forum on Transparency and Exchange of Information for Tax Purposes (“Global Forum”) has just released the results of the Second Round Review of the Exchange of Information on Request (“Second Round Review”) for Indonesia which elevates Indonesia’s overall rating from Partially Compliant to Largely Compliant. The Second Round Review was conducted by comparing international taxation standards with Indonesia’s current taxation regime via a process which encompassed questionnaires, peer input, on-site visits and group peer-review meetings.
- This improved status means that Indonesia will be spared the imposition of various sanctions by the Global Forum and the European Commission, which are generally applied to countries which are classified as non-transparent and non-cooperative for taxation purposes.
- In order to maintain and improve upon this encouraging result, the Indonesian Government will continue with its ongoing policy of taxation reformation, which includes the preparation of sufficient legislation and its effective implementation. Furthermore, it has been recommended that Indonesia improve the quantity and quality of its tax inspectors through the introduction of a better recruitment system and education/training programs.
- For more on this story, see Hukumonline: “Indonesia Naik Peringkat dalam Penilaian Global Forum”.
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