Press Release
MIND ID Group Promotes Transparancy of Tax Data
Jakarta, 4 September 2020 – As a commitment and support towards the promotion of quality and transparency of tax data in Indonesia, MIND ID (Mining Industry Indonesia) and all of its member companies have jointly signed a memorandum of understanding with the Directorate General of Taxes (DJP) to integrate tax data. This event signifies that the tax data integration system has officially been adopted in the MIND ID Group.
The members of MIND ID consist of PT ANTAM Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum (Persero) and PT Timah Tbk.
During the event, Director General of Taxes Suryo Utomo said that “We appreciate the synergy and commitment of MIND ID and all of its member companies to support the DJP in the creation of a clean and transparent tax system. The implementation of the program will promote the effectivity and efficiency of tax revenue collection.”
The integration of the Tax Data encompasses the exchange, processing, research and assessment of tax data through the information technology-based facility. In future, the program will enable the administrative burdens of MIND ID and its members to be reduced.
President Director of MIND ID Orias Petrus Moedak said that “MIND ID is the first State-Owned Enterprise Holding implementing the tax data integration throughout all of its member entities. The integration of the tax system in the MIND ID Group is in line with our commitment to work transparently and conduct healthy business practices in order to contribute to the country and promote its welfare, in accordance with the noble purpose of the company.”
For MIND ID and its member companies, the move will reduce the Cost of Compliance, namely, the administrative burden that comes with compliance to tax provisions. Moreover, MIND ID will also enjoy an easier data collection process and suppress any potential tax conflicts as it is fully transparent to the tax authorities.
In the meantime, the cooperation would provide the Director General of Taxes with real-time access to the financial data of MIND ID and its member companies as well as data concerning transactions with third parties, thereby enabling the institution to conduct research and assessment on compliance electronically, without having to undergo a long and expensive inspection. As a result, the cooperation will promote the effectivity and efficiency of tax revenue collection.
The signing was conducted by the President Directors and Finance Directors of all member companies of MIND ID together with the Director General of Taxes. Present at the event were President Director of PT ANTAM Tbk, Dana Amin; President Director of PT Bukit Asam Tbk, Arviyan Arifin; Vice President Director of PT Freeport Indonesia, Jenpino Ngabdi; Executive Director of PT Inalum (Persero), Oggy Achmad Kosasih; and President Director of PT Timah Tbk, Riza Pahlevi.
PT ANTAM Tbk has implemented the integration of tax data in March 2019.
Contact MIND ID,
Our team will help you
If you have questions about products and investments, please leave a message or call the number listed.
Contact Us