G20 finance ministers and the Organisation for Economic Co-operation and Development (OECD) formulated international taxation principles related to digital taxation and the efforts to remove base erosion and profit shifting
Jakarta (ANTARA) - The Government of Indonesia is upbeat about Italy securing a deal on international taxation during the upcoming Group of 20 Economies (G20) presidency in 2021, Finance Minister Sri Mulyani Indrawati stated.

"G20 finance ministers and the Organisation for Economic Co-operation and Development (OECD) formulated international taxation principles related to digital taxation and the efforts to remove base erosion and profit shifting," Indrawati remarked during a virtual press conference on late Sunday (Nov. 22).

"However, neither an agreement nor a deal was struck at today's (G20 leaders) meeting. We are hoping that the deal would be secured under Italy’s presidency next year," she noted.

With Saudi King Salman bin Abdulaziz Al Saud closing the G20 Riyadh Summit last night, Italy assumed the forum’s annual rotating presidency from Saudi Arabia during a ceremonial handover to Italian Prime Minister Giuseppe Conte.

Moreover, Indrawati highlighted the G20 Finance Track discussion on infrastructure sector investment that is viewed as an imperative issue for Indonesia since it is in accordance with the country’s 2021 priority to increase funding for infrastructure.

"However, for the funding, it is very crucial to also involve the private sector as well as focus on optimizing innovation and technology," Indrawati emphasized.

"The G20 would provide support for optimizing technology and development of financial digitalization since this is the direction that we could not refuse but must be prepared, especially in connection with the data protection issue," the minister stated.
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