Crypto Transparency Pact: Australia and Indonesia Join Forces for Tax Data Exchange

Australia and Indonesia’s tax authorities recently signed a memorandum of understanding (MOU) to enhance cooperation in sharing cryptocurrency information. 

The agreement aims to facilitate the exchange of data on crypto assets and promote compliance with tax obligations. This collaboration reflects both countries’ commitment to embracing technological advancements and ensuring fair taxation for economic growth. Mekar Satria Utama from Indonesia’s Directorate General of Taxes highlighted the importance of adapting tax systems to evolving trends, emphasizing the significance of revenue for vital public investments. 

Belinda Darling from the Australian Taxation Office emphasized the strong partnership between the two entities, focusing on improving tax systems and addressing global challenges. Besides crypto asset tax concerns, the collaboration also extends to digital service taxation and modernizing taxpayer services.

Clever Robot News Desk 26^th April 2024