JAKARTA - Finance Minister Purbaya Yudhi Sadewa confirmed that two crude palm oil (CPO) companies that are currently being concerned about alleged underinvoicing and transfer pricing practices in export activities, namely Wilmar and Musim Mas.
Previously, Purbaya revealed that there were 10 CPO exporters who were suspected of manipulating export values through underinvoicing and transfer pricing practices.
When asked for confirmation by reporters, Purbaya confirmed that Wilmar and Musim Mas were among the companies being investigated. "That's right. Both," he told the media, Tuesday, May 26.
However, Purbaya admitted that he could not name the other companies suspected of being involved.
He emphasized that the government had not officially released a list of companies that were under investigation. "But we already have the data. The 10 largest exporters," he said.
Purbaya explained that the Ministry of Finance first conducted an internal investigation related to the alleged practice of underinvoicing and transfer pricing, and based on the initial findings, there were indications that the value of exported goods was reported lower by up to 50 percent compared to the actual transaction value.
He explained that the results of the investigation were followed up with the Financial and Development Supervisory Agency (BPKP) and the Attorney General's Office (Kejagung).
He also revealed that more than 20 CPO companies had been questioned by the Ministry of Finance, however, the main focus of the examination was directed at large companies in the sector.
"We have checked 20. The others are small. We focus on the big ones, they are all so big. So it can be confirmed that if the big ones are like that, the small ones are probably the same," he explained.
Previously, the Attorney General's Office also stated that it had conducted a general investigation related to the alleged practice of underinvoicing and transfer pricing in the CPO exports.
Purbaya added that the data from the investigation had been submitted to the Attorney General's Office about two to three months ago for further follow-up.
"It was three months ago (handed over to the Attorney General's Office). So the data has been there for three months ago. Maybe 2-3 months ago I discussed with them," he said.
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