Updated Anti-Evasion Measures: Agreements/Practices That Indicate Financial Information Disclosure Evasion to Be Declared Null and Void

In 2017, the Minister of Finance (“ Minister ”) introduced Regulation No. 70/PMK.03/2017 on Technical Guidelines for Gaining Access to Financial Information for Tax Purposes, which was subsequently amended several times, most recently through the issuance of Regulation of the Minister No. 19/PMK.03/2018 (collectively referred to as “ Regulation 70/2017 ”). [1] However, in an effort to incorporate updated anti-mandatory disclosure of financial information evasion (“ Anti-Evasion ”) provisions that adhere to the Common Reporting Standards (CRS), the Minister has now decided to issue Regulation No. 47 of 2024 on the Third Amendment to Regulation 70/2017 (“ Third Amendment ”), which has been in force since 6 August 2024. [2]