Jakarta - Minister of Finance (Menkeu) Purbaya Yudhi Sadewa said there were allegations of export price manipulation or under-invoicing practices on CPO and coal commodities.
The method is said to involve trading companies in Singapore with a price difference that can reach four times. This of course harms Indonesia because it should be able to receive greater revenue.
Purbaya said the BPKP and the Attorney General's Office had moved to follow up on the findings. He admitted that he was still waiting for a report on the progress of the examination from the two institutions.
According to Purbaya, this practice is basically a manipulation of export prices. He explained, the goods were sent first to Singapore through a trading company that was still affiliated with the exporter.
From there, the goods are sold back to the destination country at a much higher price. The government examines the shipping data in detail, including ship movements and export transactions from a number of large CPO companies.
Purbaya said that this practice was found during an examination of companies tested by the government. He said that this practice was previously difficult to detect because the Customs data only recorded exports from Indonesia to Singapore. After that, the chain of trade was not tracked.
To trace the pattern, the government began using AI and buying more complete trade data. In addition to CPO, according to Purbaya, it also found similar indications in the coal sector.
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