Indonesia and Australia Join Forces to Crack Down on Untaxed Crypto
- Indonesian and Australian tax authorities sign a new MoU to strengthen crypto taxation.
- The agreement focuses on enhancing the detection of crypto assets with potential tax liabilities.
- Indonesia and Australia have had mutual agreement on the changing financial landscape for nearly 20 years.
Indonesian and Australian tax authorities have signed a new Memorandum of Understanding (MoU) to strengthen cooperation in crypto taxation. The MoU was specifically signed by the Indonesian Directorate General of Taxes (DGT) and the Australian Taxation Office (ATO) on April 22, per an official press statement.
The agreement was inked at the Australian Embassy in Jakarta. It aims to enhance the detection of crypto assets with potential tax liabilities in either nation. Under this arrangement, tax authorities from both countries will leverage improved data-sharing capabilities to facilitate the exchange of vital information concerning crypto assets.
Mekar Satria Utama, Director for International Taxation at DGT, emphasized that the MoU highlights the importance of tax authorities embracing innovation to ada…
The post Indonesia and Australia Join Forces to Crack Down on Untaxed Crypto appeared first on Coin Edition.
