The Minister of Finance, Sri Mulyani Indrawati, has signed Regulation of the Minister of Finance No. 70/PMK.03/2017 regarding Technical Guideline on the Access to Financial Information for the Purpose of Taxation as an implementing regulation of Government Regulation in Lieu of Law (Perppu) No. 1 Year 2017 regarding Access to Financial Information for the Purpose of Taxation.
The Regulation of the Minister of Finance provides for the procedure for financial information reporting, procedure for account identification, financial institution documentation obligation, sanctions for non-compliant financial institutions, financial information confidentiality, and criminal sanctions for taxation officers who violate the confidentiality provisions.
It is expected that the issuance of such regulation is able to help the community, especially financial institutions, in complying with the provisions of Perppu No. 1 Year 2017. The Regulation of the Minister of Finance enters into force as from May 31, 2017.