Bank Ready To Deposit Customer Data To The Directorate General Of Taxes

Referring to Regulation of the Minister of Finance No. 73 / PMK.03 / 2017, some banks prepare to report financial data, including income related to customer accounts. La [oran to the Directorate General of Taxation of the Ministry of Finance.

This was conveyed by Director of BRI's Business and Finance Strategy Haru Koesmahargyo who was contacted in Jakarta on Saturday (10/2/2018).

Limited Liability Company Bank Rakyat Indonesia Persero Tbk. (BRI), said Must be quoted ANTARA news, will report the data of domestic customers before the end of April 2018, in accordance with the deadline set by the Directorate General of Taxation.

According to Haru, the data reporting obligation of the customers will not disrupt the third party fund collecting (DPK) of the bank with the largest profit in Indonesia.

The reason is that the reporting obligation must be followed by all financial institutions so it is unlikely that customers will transfer funds to other financial institutions.

"For domestic customer reporting obligations, BRI is also ready to report before the deadline," said Haru, as quoted by ANTARA news (10/2/2018).

For reporting of foreign customer data, said Haru, BRI has also registered itself to the Financial Services Authority (OJK). At the latest, the financial data of customers or foreign entities is submitted to the DGT through OJK at the end of August 2018.

"The system at BRI has been developed and has been implemented since 2016 and has been integrated with SIPINA's OJK Application System," said Haru.

The provisions on registration and reporting of customer data are also stipulated in the Regulation of the Director General of Taxation No. PER-04 / PJ / 2018 on Registration Procedure for Financial Institutions and the Submission of Financial Information Report.

Not all customer data are reported to DGT. In accordance with the PMK No. 73 / PMK.03 / 2017, only customer data having a balance of at least Rp1 billion shall be reported. In the preceding rules, the balance limit must be reported by a financial institution of at least Rp200 million.

The client's data report includes at least information such as the identity of the account holder, account number, identity of the reporting financial institution, account balance, and income related to the financial account.

Meanwhile, PT Bank OCBC NISP Tbk., A bank controlled by a majority of Singapore shareholders, is also processing the registration to the Directorate General of Taxation.

In line with BRI, OCBC believes that customer data reporting will not disrupt the growth of DPK this year.

"This openness is a new norm that all parties must accept and get used to, not only in Indonesia but the new norm in the world," said President Director of OCBC NISP Parwati Surjaudaja.

In accordance with the PMK and the Directorate General, the financial institution is required to register to the DGT by the end of February 2018. The reporting obligation is for domestic customers no later than the end of April 2018.

For a customer of a foreign person or entity, the reporting obligation shall be regulated, ie no later than August 1, 2018. Financial services institutions (banking / capital markets / insurers) shall submit to OJK, and OJK no later than August 31, 2018 submit to the Directorate General of tax.