OJK, DJP Cooperate In Financial Service Sector Monitoring

Jakarta, July 4 (Antara) - The Financial Service Authority (OJK) and the Directorate General of Tax (DJP) signed an agreement for cooperation in financial service sector monitoring. "Both OJK and Directorate General of Tax have common responsibility in maintaining stability to achieve a better national economy. This cooperation agreement is expected to be able to optimize each of the institutions in carrying out their mandates," OJK chairman Muliaman D Hadad said at the signing ceremony here on Thursday. The cooperation covers harmonization of regulations in the financial service and tax sector, utilization of data and information for carrying out supervisory functions including data and information about players` relations in ownership in the financial service sector, education and training as well as counseling for the two parties. Under the agreement the Directorate General of Tax and OJK agreed to help each other in carrying out their duties. Support to be given by the Directorate General of Tax to OJK includes provision of data and information about tax payers` identities, tax compliance and ownership ties of players in the financial service sector. OJK meanwhile would give tax data and information of players in the financial service sector. "We hope OJK and the Directorate General of Tax could later set priorities to make their goals achieved," Muliaman said. Upon the request of OJK, the Directorate General of Tax could send its personnel to work at OJK in structural or functional posts based on OJK`s needs. The signing of the agreement was aimed at increasing compliance of players in the financial service sector with regulations in the financial service and tax sector and optimizing tax and financial information and data in the financial service sector. The agreement is also expected to be able to increase coordination and law enforcement in the financial service sector and also in education and training as well as counseling about tgax and financial services.