How many accounts exceed Rp 200 million?

In April 2017, the total number of individual savings accounts in Indonesian banks reached 206.89 million, with a total value exceeding Rp 5 quadrillion. Of these accounts, 2.39 million (1.1 percent) held balances exceeding Rp 200 million. The remaining 204.47 million accounts (98.88 percent) held balances below Rp 200 million.

Regulation of the Minister of Finance (PMK) Number 70 of 2017 (PMK.03/2017) mandates that banks report accounts held by individuals with balances of at least Rp 200 million to the Directorate General of Taxes. This regulation is a derivative of Government Regulation in Lieu of Law (Perppu) Number 1 of 2017.

Finance Minister Sri Mulyani stated that the public need not worry about this regulation, as the threshold is merely intended to identify tax potential. The number of accounts with balances exceeding Rp 200 million is very small, representing only 1.1 percent of the total. However, the regulation has sparked controversy, as it is considered too low and perceived as targeting middle-class taxpayers rather than tax evaders.