scholarly journals PERPPU NOMOR 1 TAHUN 2017 TENTANG “AKSES INFORMASI KEUANGAN UNTUK KEPENTINGAN PERPAJAKAN” DAN IMPLIKASINYA TERHADAP LEMBAGA KEUANGAN DI INDONESIA

2018 ◽  
Vol 15 (1) ◽  
Author(s):  
Kusworini Kusworini
Keyword(s):  
Financial Institutions ◽  
Information Exchange ◽  
Financial Information ◽  
Financial Industry ◽  
Tax Base ◽  
Member States ◽  
Additional Information ◽  
Tax Revenues ◽  
Financial Account

<p>Access of tax officers to the financial industry customers is set forth in Perppu No. 1 2017Th, the issuance of this rule is closely linked to the financial information exchange agreement between the Automatic Exchange of Financial Account Informce (AEoFIA) organized by Member States of the Organization for Economic  Co-operation and Development (OECD), including Indonesia. At the same time the Perppu is at the same time the capital of the tax authorities to pursue the tax target. The tax authorities are authorized to request additional information and evidence from financial institutions, as the latter annuls several articles which have been the secret locking of financial industry customers. This Perppu will raise tax revenues given the low acceptance of the current tax base. Nevertheless this Perppu would be perfect if it could be metamorphosed into Law.</p>

scholarly journals A Comparative Study on Automatic Financial Exchange between Indonesia and Malaysia

Rechtsidee ◽  
2019 ◽  
Vol 6 (1) ◽  
Author(s):  
Bambang Sugeng Ariadi Subagyono ◽  
Agus Yudha Hernoko ◽  
Zahry Vandawati Chumaida
Keyword(s):  
Law Enforcement ◽  
Information Exchange ◽  
Information Access ◽  
Competent Authority ◽  
Financial Information ◽  
Banking And Finance ◽  
Financial Account ◽  
Inland Revenue ◽  
Account Information ◽  
One Year

Taxpayer data and information from banking and finance institution could be guidance on any development. Therefore, it could be a corrective act to do the law enforcement on increasing Inland Revenue. Financial information exchange regarded to tax interests, besides by demanding way also could automatically way done (Automatic Exchange of Financial Account Information/AEol). Indonesia commitment was manifested by Multilateral Competent Authority Agreement signed after AEOI on 3rd June 2015. Indonesia agreed to start the financial information exchange automatically on September 2018. The followed-up Indonesia government commitment was on 8th May 2017. It had approved the financial information access no.1 2017 legislations as to tax interests. Then, one year later was set to be no.9 2017 legislations.

scholarly journals Legislation of Law Number 9/2017 as Indonesia's Commitment to Automatic Exchange of Financial Information and Comparison to Malaysia’s Commitment

2019 ◽  
Vol 8 (9) ◽  
pp. e21891237
Author(s):  
Bambang Sugeng Ariadi Subagyono
Keyword(s):  
Information Exchange ◽  
Information Access ◽  
Competent Authority ◽  
Financial Information ◽  
Banking And Finance ◽  
Financial Account ◽  
Exchange Information ◽  
Different Types ◽  
Inland Revenue ◽  
Account Information

Taxpayer data and information of banking and finance institutions are useful for guidance in giving prediction on any kind of development.  A corrective act must be taken as an effort of law enforcement within taxation sector and to increase the Inland Revenue. Financial information exchange concerning on tax interests can be done by both demand and automatic way (Automatic Exchange of Financial Account Information/AEol). This study aimed to know the urgency of Legislations of Law Number 9/2017 as the country allowance increasing effort and how Malaysia's Commitment to Implement Automatically Exchange Information Relating to Financial Accounts (AEoI). Using descriptive qualitative as the methodology, the result showed that Indonesia proved the commitment by signing Multilateral Competent Authority Agreement after AEoI and agreed to start the automatic financial information exchange. It has approved on the Legislation Number1/2017 on financial information access as tax interests which then changed to Legislation Number 9/2017 a year later. Meanwhile, in comparison, Malaysia’s commitment to the AEoI has signed some agreements and committed to exchange information with respect to different types of accounts opened and maintained by the Malaysian financial institutions.

scholarly journals Implementasi Maqashid Syariah dalam Merumuskan Tujuan Laporan Keuangan Bank Syariah

2020 ◽  
Vol 3 (2) ◽  
pp. 177
Author(s):  
Muzayyidatul Habibah
Keyword(s):  
Financial Institutions ◽  
Research Method ◽  
Field Research ◽  
Financial Statements ◽  
Qualitative Approach ◽  
Financial Information ◽  
Tertiary Level ◽  
Property Development ◽  
Financial Reports ◽  
Additional Information

<p class="bdabstract">This research aims to analyze how the implementation of maqashid as-sharia in formulating Islamic bank financial statements’ objectives. The research method used is a descriptive qualitative approach, through field research, by examining published Islamic financial reports and conducting interviews with management. The purpose of preparing Islamic financial reports on Islamic entities following the maqashid as-sharia is to fulfil the objectives in providing useful information to stakeholders comprehensively. The purpose of Islamic financial reports includes three levels, namely primary (dharuriyat), secondary (tahsiniyah), and tertiary (hajiyat). The primary aspect is very useful in providing financial information that all financial institutions' activities come from halal sources. Meanwhile, the second aspect can provide additional information on adherence to sharia principles, as a form of protection for property development through contracts under sharia principles. In the aspect of fulfilling the tertiary level, it shows the urgency in presenting assets owned by sharia entities in a transparent and accountable manner, as an effort to be accountable to humans and Allah SWT., Thus providing benefits to more people. Fulfillment of these three aspects of maqashid sharia is a form of benefit in the management of sharia entities.</p>

Critical Analysis of the Zero Risk Weight Privilege for European Sovereign Debt in Light of Art. 124 TFEU

2020 ◽  
Vol 17 (1) ◽  
Author(s):  
Patrick Hauser
Keyword(s):  
Financial Institutions ◽  
Sovereign Debt ◽  
Banking System ◽  
Financial System ◽  
Significant Risk ◽  
Capital Adequacy ◽  
Individual Member ◽  
Member States ◽  
The Individual ◽  
Credit Institutions

AbstractThe zero risk weight privilege for European sovereign debt in the current capital adequacy requirements for credit institutions incentivises credit institutions to acquire and hold sovereign debt. However, it also poses a significant risk to the stability of the banking system and thus the financial system as a whole. It is argued that this privilege should not only be abolished due to the risk it entails but that it is also non conformant with EU primary law. Art. 124 TFEU prohibits privileged access of the EU and Member States' public sector to financial institutions except for prudential considerations. The protective purpose of Art. 124 TFEU to ensure sound budgetary policies by subjecting public borrowing to the same rules as borrowing by other market participants is thwarted by the uniform zero risk weight privilege. Further, as this privilege does not take into account the varying creditworthiness of the individual Member States it does not promote the soundness of financial institutions so as to strengthen the soundness of the financial system as whole, but rather endangers systemic stability. The zero risk weight privilege is therefore not based on prudential considerations and hence violates Art. 124 TFEU.

The new player in international taxation: the automatic exchange of financial information

2021 ◽  
Vol 23 (3) ◽  
pp. 41-45
Author(s):  
ESTER GARCÍA ◽  
Keyword(s):  
Information Exchange ◽  
Legal Framework ◽  
Financial Information ◽  
International Taxation ◽  
Positive Outcomes ◽  
Exchange Of Information ◽  
Bank Secrecy ◽  
Bank Accounts

The article highlights the progress of international taxation in the fight against the concealment of income in offshore jurisdictions and exposes the lights and shadows of the current legal framework for the exchange of information on bank accounts. The author examines the major problems of international taxation and how corporations avoid paying taxes in their jurisdictions and how it affects the financial sphere. The article studies bank secrecy with its harmful aspects and develops the solution to resolve the current issues. As a conclusion, the author focuses on cooperation between tax administrations and the positive outcomes from transparency and information exchange measures on the international taxation.

scholarly journals Textual Analysis and Sentiment Analysis in Accounting

2021 ◽  
Vol 24 (2) ◽  
pp. 168-183
Author(s):  
Juan L. Gandía ◽  
David Huguet
Keyword(s):  
Sentiment Analysis ◽  
Textual Analysis ◽  
Financial Information ◽  
Digital Tools ◽  
Future Research ◽  
Analysis Techniques ◽  
Additional Information ◽  
New Perspective ◽  
Medios De Comunicacion

A pesar del relativamente escaso uso de técnicas de análisis textual y de análisis del sentimiento en finanzas y contabilidad, éstas tienen un gran potencial en contabilidad, tanto por el elevado volumen de documentos utilizados para la comunicación de información financiera como por el crecimiento en el uso de herramientas digitales y medios de comunicación social. En este sentido, estas técnicas de análisis pueden ayudar a los investigadores a analizar pistas ocultas o buscar información adicional a la observada a través de los estados financieros, incrementando la cantidad y calidad de la información tradicionalmente utilizada, y proporcionando una nueva perspectiva de análisis. Por ello, el objetivo de este estudio es realizar una revisión del uso del análisis textual y del análisis del sentimiento en contabilidad. Tras presentar los conceptos de análisis textual y análisis del sentimiento y justificar teóricamente su papel en la investigación en contabilidad, llevamos a cabo una revisión de la literatura previa en el uso de estas técnicas en finanzas y contabilidad y describimos las principales técnicas de análisis del sentimiento, así como el procedimiento a seguir para el uso de esta metodología. Finalmente, sugerimos tres líneas de investigación futura que pueden beneficiarse del uso del análisis textual y del análisis del sentimiento. In spite of the relatively scarce use of textual analysis and sentiment analysis techniques in finance and accounting, they have great potential in accounting, both because of the volume of documents used for the communication of information and due to the growth in the use of digital tools and social media. In that regard, these techniques of analysis may help researchers to analyse hidden clues or look for additional information to that one observed through financial information, increasing the quantity and quality of the information traditionally used, and providing a new perspective of analysis. The aim of this study is to review the use of textual analysis and sentiment analysis in accounting. After presenting the concepts of textual analysis and sentiment analysis and expose their interest in accounting, we perform a review of the previous literature on the use of these techniques in finance and accounting and describe the main techniques of sentiment analysis, as well as the procedure to be followed for the use of this methodology. Finally, we suggest three lines of future research that may benefit from the use of textual and sentiment analysis.

scholarly journals TAX GAP AS A TOOL FOR MEASURING VAT EVASION IN THE EU COUNTRIES

2020 ◽  
Vol 10 (2) ◽  
pp. 8-13
Author(s):  
ALENA ANDREJOVSKÁ ◽  
VERONIKA KONEČNÁ ◽  
JANA HAKALOVÁ
Keyword(s):  
Tax Evasion ◽  
Sharp Change ◽  
Member States ◽  
Eu Member States ◽  
Tax Revenues ◽  
Tax Gap ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
The Eu

VAT is one of the most decisive tax revenues sources in the EU Member States. Due to financial frauds and insufficient tax system, there is a billion loss of EUR every year in the European budget. The article deals with the impact of the tax evasion on economies of the EU Member States. By applying the top-down approach, we observed tax gaps as a quantifier of tax evasion from 2004 to 2017. The period around the economic crisis in 2009 was examined in more detail, as there was a sharp change in the evolution of tax gaps. We constructed a regression model, which examined the relationship of the tax gap and VAT tax revenues to selected determinants of tax evasion. The results showed that tax gaps in the Member States have been growing every year. We also found that there is an increase in tax revenues, but tax liabilities increase to greater extent.

scholarly journals IMPLEMENTATION OF RAHN IN SHARIA GOLD FINANCING AT MODERN ISLAMIC FINANCIAL INSTITUTIONS (CASE STUDY IN BANK BRI SYARIAH BRANCH OF PEKANBARU).

Hukum Islam ◽  
2018 ◽  
Vol 18 (1) ◽  
pp. 40
Author(s):  
AHMAD MAULIDIZEN
Keyword(s):  
Data Collection ◽  
Financial Institutions ◽  
Field Research ◽  
Islamic Banking ◽  
Financial Industry ◽  
Collection Method ◽  
Data Collection Method ◽  
Islamic Financial Institutions

Islamic Financing Products have started to grow rapidly in the current banking and financial industry at this time. This situation can be seen through the increase of Islamic banking assets for several years, in addition to the inclusion of more institutions offering Islamic products. Sharia Gold Pawn Products is the delivery of marhun (collateral goods) from the rahin (customers using mortgage financing) to the bank as a guarantee of part or all of the debt. This research is field (field research) with data collection method through observation, interview and documentation study in data collection. The author concludes that the application of Rahn's contract on Sharia gold mortgage financing at Bank BRI Syariah has been in accordance with the National Sharia Board Fatwa and there are several things that must be improved so as not to conflict with Sharia principles

scholarly journals Keterkaitan Kerahasiaan Bank dan Pajak: Antara Kepentingan Negara dan Pribadi

2019 ◽  
Vol 16 (2) ◽  
pp. 212
Author(s):  
Akhmad Yasin
Keyword(s):  
Qualitative Research ◽  
Financial Institutions ◽  
Financial Services ◽  
Research Method ◽  
Financial Information ◽  
Constitutional Court ◽  
Legal Research ◽  
Qualitative Research Method ◽  
Bank Secrecy ◽  
Tax Payments

Bank sebagai lembaga keuangan, eksistensinya sangat tergantung dari kepercayaan masyarakat yang menjadi nasabahnya. Masyarakat telah memercayai bank sebagai institusi yang menyimpan dana nasabah, mengelola dan menyalurkan kembali kepada masyarakat dalam bentuk pinjaman atau kredit. Oleh karena itu, untuk menjaga kepercayaan nasabah tersebut, bank harus mematuhi ketentuan mengenai rahasia bank. Permasalahan dalam penelitian ini adalah mengetahui dalam kondisi bagaimana rahasia bank dapat diakses, pihak-pihak mana yang wajib menjaga kerahasiaan bank, adakah keterkaitan kerahasiaan bank dengan pajak, dan perlukah kerahasiaan bank yang terkait pajak dihilangkan. Penelitian ini menggunakan metode penelitian deskriptif kualitatif. Hasil penelitian mengungkapkan bahwa terdapat beberapa kondisi dimana rahasia bank boleh dibuka, tetapi tidak semua informasi dan data keuangan nasabah boleh dibuka di hadapan publik kecuali setelah adanya persetujuan dari Otoritas Pajak dan setelah mendapat laporan dari lembaga jasa keuangan di bawah pengawasan Otoritas Jasa Keuangan. Pembukaan rahasia bank diperbolehkan apabila berhubungan dengan kepentingan negara, seperti untuk kepentingan peningkatan kepatuhan masyarakat terhadap pembayaran pajak dan peningkatan penerimaan negara di sektor pajak.Banks as financial institutions, their existence is very dependent on the people’s trust who become their customers. The community has trusted banks as institutions that store customer funds, manage and channel back to the community in the form of loans or credits. Therefore, to maintain the customer's trust, the bank must obey bank secrets provisions. This research uses descriptive qualitative research method in the form of normative legal research and laws and regulations studies related to bank secrecy, derived from literature such as constitutional court decision, books, journals, articles, magazines, and websites. The results reveal that there are several conditions under which bank secrets may be opened, but not all financial information and data of the client may be disclosed in public unless after approval by the Tax Authority after receiving a report from a financial services institution under the supervision of the Financial Services Authority. The unveiling of bank secrecy is permitted when it comes to the interests of the state, such as for the purpose of increasing public compliance of tax payments and increasing state revenues in the tax sector. 

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