Purbaya: Sealing Tiffany & Co related to Alleged Underinvoicing

Minister of Finance Purbaya Yudhi Sadewa answers a journalist's question in a closed interview at Wisma Danantara, Jakarta, Friday, February 13, 2026. (ANTARA/Rizka Khaerunnisa)

JAKARTA - Finance Minister Purbaya Yudhi Sadewa stated that the sealing of three luxury jewelry stores, Tiffany & Co, was due to alleged smuggling practices and underinvoicing or paying lower than the value it should be.

His staff at the Directorate General of Customs and Excise of the Jakarta Regional Office (Kanwil) reported that the jewelry store could not show the Import Notification Form (PIB) as proof of the legality of the import when verified.

"It is suspected that this is smuggling or not, they are asked to see the trade form, they can't show it," Purbaya told reporters at Wisma Danantara, Jakarta, Friday, February 13, reported by ANTARA.

The state treasurer said this sealing action was aimed at sending a message to other business actors not to engage in similar practices. The reason is that the manipulation of the value of goods suppresses revenue from the customs and tax sector.

He also stated that he would continue to investigate business actors suspected of smuggling illegal goods.

"This is a good message for business actors who are not too fair and harmful, so that customs and tax revenues decrease. In the future, they can't do that again," he said.

At the same time, the state treasurer opened the possibility of collusion between business actors and internal Customs officers. He will trace the parties involved in this action.

"It seems that there are (officers involved). Later we will see who is involved. That's the old one (the officer involved). Now I'm putting new officials. After I turn it around, the good ones are in front, so he dares to act. Later I'll see what the law is like," he said.

The sealing by the Customs was carried out at three Tiffany & Co jewelry stores in Plaza Senayan, Plaza Indonesia, and Pacific Place.

Head of the Enforcement Section of the Directorate General of Customs and Excise for Jakarta Regional Office Siswo Kristyanto explained that his party carried out an operation related to 'high value goods', namely high-value goods suspected of containing goods that were not reported to the PIB.

The action follows instructions from the Minister of Finance Purbaya Yudhi Sadewa to dig up potential revenue outside of what is already customary in customs and taxes.

Siswo said that this sealing was a supervision and was still in the administrative process.