Indonesia, Singapore Discuss Expanded Tax Data Sharing to Curb Corporate Tax Abuse

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The discussions covered several issues, including abusive transfer pricing, underinvoicing, and corporate activities linked to forest fires.

Bogor, West Java. Indonesia and Singapore are discussing ways to expand the exchange of tax and financial data to strengthen corporate oversight and prevent the manipulation of cross-border transactions that could undermine government revenue.

Indonesia's Directorate General of Taxes said the discussions covered several issues, including abusive transfer pricing, underinvoicing and corporate activities linked to forest and land fires.

Director General of Taxes Bimo Wijayanto said greater information sharing was essential to improving the transparency of transactions involving companies operating across the two countries.

“We discussed what data could be exchanged to strengthen corporate compliance in both Indonesia and Singapore,” Bimo said on Thursday.

He described Singapore as one of Indonesia's most active partners in financial information sharing, with existing cooperation covering a substantial volume of data and transactions of significant value.

The discussions are being coordinated by Indonesia's Foreign Affairs Ministry and involve several government agencies, including units within the Finance Ministry responsible for taxation, financial information and international trade.

Greater Scrutiny of Natural Resource Transactions The proposed expansion of bilateral cooperation is also part of Indonesia's broader efforts to improve governance in the natural resources sector.

Bimo said greater information sharing should complement ongoing reforms in the management of critical and strategic minerals and other natural resources, including palm oil.

“Of course, this must also be aligned with reforms in other areas, including the governance of critical minerals, strategic minerals and natural resources, including palm oil,” he said.

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