How many accounts exceed Rp 500 million?

More than one million bank savings accounts have a value exceeding Rp 500 million. The Deposit Insurance Corporation recorded approximately 519,000 savings accounts with values between Rp 500 million and Rp 1 billion, 258,000 accounts with values between Rp 1 billion and Rp 2 billion, 155,000 accounts with values between Rp 2 billion and Rp 5 billion, and 85,000 accounts with values exceeding Rp 5 billion. The total number of bank accounts as of the end of February 2017 reached 202.16 million.

On May 8, 2017, the government issued Government Regulation in Lieu of Law (Perppu) No. 1/2017 concerning the opening of tax access to financial industry customer data. This Perppu is one of the requirements for Indonesia to participate in the international tax exchange program (Automatic Exchange of Information/AEoI), scheduled to commence in 2018.

With the issuance of this Perppu, it is suspected that customer data with savings of Rp 500 million and above will be disclosed to the Directorate General of Taxes. For international tax information exchange, customer data with savings of US$ 250,000 and above will be disclosed.