Global Forum on Transparency and Exchange of Information for Tax Purposes

Asia Initiative



Fourth Asia Initiative Meeting

The Asia Initiative is focused on developing tailored solutions to ensure the implementation of tax transparency standards across Asia.

On 17 November 2021, Indonesia’s Minister of Finance Sri Mulyani Indrawati and the President of the Asian Development Bank (ADB), Masatsugu Asakawa, both firmly supported the launch of an Asia Initiative on tax transparency and called jurisdictions in the region to join this important milestone to support post-pandemic recovery efforts.

On 14 July 2022, ministers from 13 Asian jurisdictions endorsed the Bali Declaration (Asia Initiative Declaration) as a call to enhance the use of tax transparency for sustainable domestic resource mobilisation in the region. The signing ceremony was held on the margin of the third G20 Finance Ministers and Central Bank Governors' meeting in Bali, Indonesia [read the official press release]. Four other jurisdictions have since joined the Declaration.

The first progress report of the Asia Initiative was published in April 2023.

The Asia Initiative is currently co-chaired by Mr Suryo Utomo, Director General, Directorate General of Taxation, Indonesia, and Mr Sanjay Malhotra, Revenue Secretary, Department of Revenue, Ministry of Finance, India.

Asia Initiative Declaration signing ceremony


» Bali Declaration (Asia Initiative Declaration)

» Fifth meeting of the Asia Initiative - Statement of outcomes (November 2023)

» Tax Transparency in Asia 2023: Asia Initiative Progress Report (April 2023)

» Fourth meeting of the Asia Initiative - Statement of outcomes (April 2023)

» Third meeting of the Asia Initiative - Statement of outcomes (November 2022)

» Second meeting of the Asia Initiative - Statement of outcomes (September 2022)

» First meeting of the Asia Initiative - Statement of outcomes (February 2022)

» Asia Initiative: Sustaining the recovery through enhanced tax transparency (brochure, November 2021)

» India's 2023 G20 Presidency [website]


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