Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Foreign Exchange Transactions to Be Scrutinized
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Foreign Exchange Transactions to Be Scrutinized

Large Transfers of Foreign Currency will Require Presentation of an Official Tax Registration Number.


Bali News:
Click Image to Enlarge

(11/15/2008)

In a move to restrict foreign exchange speculation, Bank Indonesia is clamping down on transactions exceeding US$10,000.

The new regulation issued by Bank Indonesia on Thursday, November 13, 2008, mandate that any transaction exceeding more than US$10,000 will only be allowed if "the underlying activity" can be substantiated. A Bank spokesman said the measured were intended to curb currency speculation and tax avoidance.

Those wishing to make large foreign exchange transactions will be required to present a Tax Payer Identification Number (NPWP) in order to complete a transaction.

According to the daily Kompas, all transactions of foreign exchange exceeding US$10,000 will be jointly monitored by Bank Indonesia and the tax office. Tax payers transferring funds exceeding their declared income will come under closer scrutiny by the tax office.

Many Unregistered Tax Payers

Despite an active effort by the tax department to encourage wage earners to obtain NPWPs, only 4 million "active" tax numbers are in place against and estimated 117 million wage earners nationwide; 25 million of which are estimated to be employed in the formal sector.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

   

 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Fire in East Denpasar
Fire Destroys 7 Shop Houses in East Denpasar, Bali
(12/20/2014)
Mantra for Difficult Times
Australian Mantra Hotel Group Scales Down its Plans in Tough Bali Marketplace
(12/20/2014)
Be Prepared
Bali Identifies Areas at Risk of Natural Disaster and Maps Plans to Minimize Destruction
(12/20/2014)
When Sleighs Wonít Do
Bali Airport to Operate 134 Extra Flights Over Christmas and New Year Period
(12/20/2014)
When a Bay Becomes a Quagmire
Editorial: We Support Jakarta Globe Call for President Joko Widodo to Cancel the Benoa Bay Reclamation
(12/20/2014)
4.25 Million Foreign Tourists to Bali in 2015
Bali Seeks to Add 500,000 Tourist Visitors in 2015
(12/20/2014)
That Takes the Lot!
Baliís Tanah Lot Temple Experiencing a Record Number of Visitors Leader Up to Year End Piodalan Ceremony
(12/19/2014)
Shanghaied No More
Singaraja, Bali Immigration Office Deports 282 Foreign Workers in 2014
(12/19/2014)
Different Strokes Apply in Bali
Pendawa Beach Visitors in Bali Reminded that Sexual Activity and Swimming While Menstruating are Not Allowed
(12/19/2014)
Bali Non-Stop to Cairn, Australia
JetStar to Fly Direct Three Time a Week Cairns to Bali Flights Starting in March 2015
(12/19/2014)
Symphony of Feeling
Solo Exhibition of Paintings by Mochammad Toha Hasan, January 19 - March 12,2015 at Ganesha Gallery at Four Seasons Resort Bali at Jimbaran Bay
(12/19/2014)
Imagine That
Hard Rock Imagine a Better World and Raises Smile and Funds for Indonesian Children
(12/19/2014)
All [News]!