Rabu , 17 May 2017, 18:00 WIB

Govt may see bank customer’s data without BI permit

Rep: Sapto Andika Candra, Sri Handayani/ Red: Reiny Dwinanda
Antara//M Risyal Hidayat
Starting May 8, the government is now has the authority to access national and international customers’ banking information for the sake of tax investigation.
Starting May 8, the government is now has the authority to access national and international customers’ banking information for the sake of tax investigation.

REPUBLIKA.CO.ID, JAKARTA -- The government is now has the authority to access national and international customers’ banking information for the sake of tax investigation. It was stated in the Governmental Regulation in Lieu of Law (Perppu) No. 1 in 2017 on the access to financial information for tax investigation. The information might be requested without Bank Indonesia (BI)’s permit.

The existing regulation was implemented since May 8. It could be a basic for the government to enter the scheme of Automatic Exchange of Financial Account Information/AEoI in 2018. Indonesia should arrange a regulation before June 30 to be part of the countries implementing AEoI. If it was not implemented, Indonesia would be failed to join financial information exchange. 

Coordination Minister on Economy Darmin Nasution said, the regulation on AEoI eliminated all articles on secret banking or financial data mentioned in some policies (beleid). 

"The Perppu eliminated the articles,” said Darmin at his office on Wednesday (May 17). 

In article 8 of Perppu No. 1 in 2017 on access of financial information for tax investigation, it was mentioned that a number of regulation on banking and financial secret were eliminated, among others article 35 verse 2 and article 35a of Law No. 6 in 1983 on KUP, article 40 and 41 of Law No. 7 in 1992 on Banking, article 47 of Law No. 8 in 1995 on Capital Market, article 17, article 27, article 55 of Law No. 32 in 1997 on Future Commodity Trading, article 41 and 42 of Law No. 21 in 2008 on Islamic Banking. 

Darmin added that the implementation of new regulation targeted local and foreign customers in Indonesia. It was stated in article 1 of Perppu No. 1 in 2017 mentioned that the access of financial information included the access to receive financial information in accordance to the implementation of international agreement on tax.   

“Both (local and foreign customers). It was not mentioned in detail. It was ever been more detail targeted the foreign customers. Lately it targets all customers,” said Darmin. 

Meanwhile, financial information could be accessed by the authority of tax, including the personal identity of account owners, account number, the identity of financial service institution, financial balance and value, and any income related to specific account. Financial institution should also refused to open new account of people who refused to obey the regulation mentioned in the Perppu. 

The beleid mentioned that financial service institution and other entities which did not give the information, did not implemented the financial account identification procedure well, and did not give information or evidence would got Rp 1 billion of fines. 

Darmin said the regulation was implemented to all financial service institution. But, the request of information for Indonesian customers abroad would be based on the agreement between the related countries.