Introductory Remarks of the President of the Republic of Indonesia at a Limited Meeting on the Implementation of Automatic Exchange of Information in the Fields of Finance and Taxation and Preparation of 2018 Annual Meetings of the International Monetary Fund (IMF) and the World Bank at the Presidential Office, Jakarta, on 22 February 2017
Unofficial English Translation
Assalamualaikum warahmatullahi wabarakatuh,
May peace be upon us all,
The limited meeting this afternoon will discuss two agenda. First, the preparation of the implementation of exchange of information in the fields of finance and taxation or known as Automatic Exchange of Information which will be implemented in September 2018. Second, the preparation of the 2018 Annual Meetings of the International Monetary Fund (IMF) and the World Bank.
Regarding Indonesias commitment to join 101 countries in the Automatic Exchange of Information, I demand that this should be a momentum to reform our financial information systems, particularly to improve our tax information system. This is indeed a momentum to build more comprehensive, more integrative, and stronger database as well as tax administration, which will help us to increase tax rate, promote voluntary tax compliance, and prevent tax avoidance and evasion.
From today onwards we have to strive increasing our tax rate so that it can fund priority programs particularly poverty alleviation, economic equality, and job creation programs. Thus, I instruct Minister of Finance, and Minister of Law and Human Rights to prepare regulations required to support the implementation of the Automatic Exchange of Information.
I would like to underline that any regulation should not overlap each other which will complicate the implementation.
Regarding Indonesias plan to host the 2018 Annual Meetings of the IMF and the World Bank, I want it to be well prepared so the meeting can be a momentum to show the world that Indonesias economy still grows amidst the global economic slowdown. We use (the momentum) to show the progress we have achieved and promote Indonesias investment, trade, and tourism.
That is all I can say in this remarks.
I invite Coordinating Minister for the Economy and Minister of Finance to take the floor. (PR Cabinet Secretariat) (RAS/AW/YM/Naster)