REPUBLIKA.CO.ID, JAKARTA – Bank Indonesia (BI) and the Ministry of Finance (Ministry of Finance) agreed on cooperation in the utilization and integrated monitoring of foreign exchange data from export and import activities. The agreement was stated in a memorandum of understanding signed by BI Governor Perry Warjiyo and Finance Minister Sri Mulyani Indrawati, in Jakarta, Monday (1/7).
Monitoring will be carried out through the Simodis Integrated Foreign Exchange Monitoring Information System. “This simodis will provide several benefits, namely increasing the acquisition and quality of information on foreign exchange in export and import activities, and also increasing the acquisition of foreign exchange earnings (DHE),” according to an official statement from BI.
That way, Simodis can optimize state revenues in the fields of customs and taxation. Then, BI and the Ministry of Finance can also obtain information on compliance profiles of exporters and importers in the field of foreign exchange and customs, and strengthen the implementation of joint analysis on foreign exchange.
BI noted that since the regulation related to the DHE was issued in 2012, compliance of exporters in fulfilling the terms of acceptance of DHE improved and reached 98.0 percent in November 2018. “Simodis is one step to strengthen DHE policies that integrate export and import information, and synergize Government and Bank “Indonesia is directly related to exports and imports,” said BI.
Technically, Simodis will integrate document flow, goods flow and cash flow through export and import documents from the Directorate General of Customs (DJBC) and NPWP data from the Directorate General of Taxes (DGT), with incoming and imported export data coming out of the transaction system financial and foreign exchange banks.
Through this integration, Simodis is expected to be able to provide comprehensive Indonesian export and import information for the Ministry of Finance and BI.