Credit Cards in Circulation Reach 17.5 Million Units

Following the end of the tax amnesty program at the end of March 2017, the Directorate General of Taxes of the Ministry of Finance will require banks to report financial information of their customers sourced from credit cards. This policy is stipulated in Minister of Finance Regulation Number 39/PMK.03/2016. Based on Bank Indonesia data, the number of credit cards in circulation until February 2017 reached 17.5 million units from various issuing banks.

Credit card data and information accessed will be used for tax purposes. This data will be matched with the Annual Tax Return (SPT) data reported by Taxpayers (WP). The Director General of Taxes guarantees that all taxpayer data or information is secure under the Directorate General of Taxes. Tax officials, in accordance with Article 34 of the Law on General Provisions and Tax Procedures (KUP), will face criminal penalties if they leak taxpayer data.