Systems and methods for communicating between surface equipment and a downhole tool installed in a well. First and second toroidal transformers are positioned around an inner one of a pair of coaxial structural members of a well completion (e.g., a pump rod and tubular, or a tubular and a well casing) which are electrically coupled to form an electrical circuit. A transmitter generates a data signal which is applied to the first toroidal transformer, causing a corresponding electrical current to be induced in the circuit, which then induces the data signal on the second toroidal transformer. A receiver coupled to the second toroidal transformer receives the data signal induced on the second toroidal transformer. The transmitter and receiver may be components of transceivers that may communicate bidirectionally. Additional toroidal coils and transceiver may be provided to communicate with equipment at additional locations in the well.