Countries strengthen tax administration for cryptocurrencies

The Indonesian General Department of Taxation (DGT) and the Australian Taxation Office (ATO) have signed a memorandum of understanding (MOU) to share information on crypto asset data to ensure compliance with tax obligations.

Indonesian officials said that the Indonesian General Department of Taxation (DGT) and the Australian Taxation Office (ATO) have signed a memorandum of understanding (MOU) to share information on crypto asset data to ensure compliance with obligations. tax.

The MOU agreement demonstrates the willingness of Indonesia and Australia to cooperate in building effective cryptocurrency management tools and ensuring asset value in accordance with the law.
DGT International Tax Director Mekar Satria Utama said cryptocurrencies have become increasingly popular in recent years, requiring state asset management agencies to build multinational coordination mechanisms. The information sharing solution will help the two governments effectively manage this type of asset and prevent activities that take advantage of cryptocurrencies for illegal purposes.
According to Mr. Utama, the MOU between DGT and ATO is an important tool to improve tax control over cryptocurrencies, and demonstrates the two governments' ability to keep up with the trends of the times.
'While crypto assets are relatively new, the need to ensure fair taxation remains essential to spur economic growth and bring in revenue for important public investments,' Mr. Utama emphasized. in sectors such as infrastructure, education and healthcare".
For her part, ATO Assistant Commissioner Belinda Darling said the close relationship between the ATO and DGT has created the foundation for effective cooperation between the two tax authorities. Ms. Belinda Darling shared: "Currently, we are focused on strengthening the tax systems in both Australia and Indonesia, as well as strengthening cooperation on complex global challenges."
In addition to cooperation on cryptocurrency tax, the two tax organizations also cooperate on DGT priorities, including modernizing and digitizing taxpayer services through the implementation of virtual tax assistants. At the same time, the two sides also resolved the issue of value-added tax on digital goods and services.