Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from
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
Bali Hotels
Bali Villas
Special Deals!
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
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

++62 361 286 283

++62 361 286 284

U.S.A. Fax:(toll free)

U.K. Fax:

Australian Fax:

++62 812 3819724

Bali Discovery

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


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


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
Bali's Best Dining and Bars
Baliís Best Restaurants, Bars, And Cafes 2015 Crowned
Pray for Rain
Extended Drought Threatens Severe Water Shortage in Kuta and Other Areas of Bali
Double Bladed Consequence
Italian Tourist Goes berserk and Attacks Warung Owner with a Knife in Sanur Bali
A Night at the Museum
Baliís Arma Museum Named the Nationís Best Privately Owned Museum
Keeping Ahead of the Wave
New Tsunami Early Warning System Tower at Kedungu Brings to 9 the Total Number of Tsunami Warning Towers in Bali.
Needed: Stroke of Good Luck
New Kuta Golf Course 8th Anniversary October 10-11, 2015
A Ban on Reclamation?
Maritime Affairs Minister Announces Plans for a Moratorium on Reclamation of Seashores Nationwide
Liberalizing Indonesiaís Cruise Sector
Foreign Flagged Cruise Ships Allowed to Carry Domestic Passengers
Dogs Tied to a Poll
Bali Post Conducts Public Opinion Survey on Governmentís Response to the Rabies Crisis
Everything on your Plate
Police and provincial Authorities Warn that Motor Vehicles Staying More than 3 Months in Bali Must Convert to Local Police License Plates
Pearls of Wisdom
Pearls of North Bali and the Women Who Fashion Them at Living Lobby Art Exhibition Masters Showcase at Conrad Bali Resort Through January 10, 2015
When Kids Communicate and Collaborate
Global Issues Network Conference in Bali October 16-18, 2015
All [News]!