Latest List of AEoI Participating and Reportable Jurisdictions

s Denny Vissaro
s Hamida Amri Safarina
By Denny Vissaro, Hamida Amri Safarina
Denny Vissaro
Hamida Amri Safarina
Currently, the number of jurisdictions performing automatic exchange of financial account information with Indonesia continues to rise. This is announced through Announcement No. PENG-2/PJ/2021 concerning the List of Participating Jurisdictions and Reportable Jurisdictions in the Context of Automatic Exchange of Financial Account Information (AEoI) (PENG-2/2021). This announcement was enacted in Jakarta on 9 April 2021.
 
The issuance of this announcement is mandated by Article 16 paragraphs a and b of the Minister of Finance Regulation No. 70/PMK.03/2017 concerning Technical Instructions on Access to Financial Account Information for Taxation Purposes as amended by the Minister of Finance Regulation No. 19/PMK.03/2018. The DGT, under the article, is obliged to announce the list of participating jurisdictions and reportable jurisdictions through the DGT or the Ministry of Finance’s website. On a side note, AEoI refers to an exchange of taxpayer information carried out en masse by the country of origin to the country where the taxpayer is registered as a tax resident.
 
The exchanged financial information includes several types of income, ranging from dividends, interest, royalties, salaries, to pension funds. Information concerning, inter alia, ownership of immovable property, change of residence, and other information is also exchanged through AEoI.
 
The announcement contains an addition to the list of participating jurisdictions. Participating jurisdictions refer to foreign jurisdictions that are bound with the Government of Indonesia in international agreements and obliged to automatically convey financial information. Formerly, 103 jurisdictions were included on the list of participating jurisdictions. As per PENG-2/2021, there is an addition of five participating jurisdictions to 108 jurisdictions. The five new jurisdictions on the list include New Caledonia, Nigeria, Niue, Peru, and Morocco.
 
The number of reportable jurisdictions has also increased. A reportable jurisdiction refers to a participating jurisdiction that constitutes the Indonesian government’s destination in carrying out the obligation to automatically submit financial information. There were formerly 85 jurisdictions in the list of reportable jurisdictions. Currently, as per PENG-2/2021, the number of reportable jurisdictions has increased by two jurisdictions to 87 jurisdictions. The two additional reportable jurisdictions include Brunei Darussalam and Peru.