Media Release
23 April 2024
The Indonesian Directorate General of Taxes (DGT) and the Australian Taxation Office (ATO) signed a Memorandum of Understanding for a cryptocurrency information sharing arrangement on 22 April at the Australian Embassy in Jakarta.
The arrangement is designed to improve the detection of assets that may have tax liabilities in either country. It means that the tax authorities can better share data and information related to crypto assets, as well as exchange knowledge to ensure compliance with tax obligations.
Mekar Satria Utama, DGT Director for International Taxation, said the MoU reflects the need for tax authorities to be innovative and collaborative to keep pace with rapid global changes in financial technologies.
“While crypto assets are relatively new, the need to ensure equitable taxation remains essential to promote economic growth and provide revenue for crucial public investments in areas like infrastructure, education and healthcare,” said Mr Utama.
Belinda Darling, ATO Assistant Commissioner, emphasised that the arrangement builds on the strong connection between the DGT and ATO.
“The partnership between the DGT and ATO goes back nearly two decades and is now focused on strengthening the tax systems in both countries and enhancing our collaboration on complex global challenges,” she said.
The ATO and DGT have collaborated on a range of DGT priorities, including the modernisation and digitisation of taxpayer services through the establishment of the virtual tax assistant, and the implementation of value-added tax on digital goods and services. ATO and DGT continue to partner with the DGT in relation to international tax and broader reforms.
The latest arrangement underscores the shared commitment of Indonesia and Australia to adapt and innovate in the face of an evolving financial landscape, ensuring a fair and sustainable tax framework for the digital era.
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