Unexpected Transfer of Citizen Suspected Tax Avoidance

By : Herry Barus And Aldo Bella Putra | Monday, October 09 2017 - 22:00 IWST

Pusat Pelaporan dan Analisis Transaksi Keuangan/ PPATK
Pusat Pelaporan dan Analisis Transaksi Keuangan/ PPATK

INDUSTRY.co.id - Jakarta - Indonesian Financial Transaction Reports and Analysis Center stated that there was a suspicion that the shifty transfer of Indonesian customers in Standard Chartered Plc amounted to 1.4 billion US dollars from Guernsey to Singapore to embezzle and avoid tax evasion.

If converted to rupiah, the amount of funds transfer reaches Rp18.8 trillion.

"The results of our analysis have been sent to the Directorate General of Taxation (DJP) of the Ministry of Finance because it is suspected that the tax evasion (tax fraud)," said PPATK Deputy Chairman Diana Ediana Rae to Antara when contacted Media crew in Jakarta, Monday (9/10 / 2017)

Dian confirms the violation of the law by avoiding tax obligations (tax evasion) is still a temporary allegation. The exact motive of the customer must wait for the investigation conducted by the DGT.

Dian said that PPATK has been sniffing this awkward transfer of funds since several months ago. She said the large fund transfers involved a number of Indonesian companies and entrepreneurs.

She was reluctant to explain further, arguing that he was still coordinating with the DGT and awaiting the results of the DGT investigation.

PPATK also, said Dian, still explore whether the transfer of funds is indicated as Money Laundering mode or not.

"In order not to cause confusion, and not cause unnecessary noise, we better wait for the results of DJP investigation, and the information they will convey," she said.

Referring to reports by Bloomberg and the South China Morning Post, regulators in Europe and Asia are investigating Standard Chartered Plc for a $ 1.4 billion privately owned customer transfer from Guernsey, Britain's territory, to Singapore by the end of 2015.

In the report mentioned, the transferred assets are mostly owned by Indonesian customers.

The regulator also received reports of suspicions about bank staff regarding the transfer. The transfers are made ahead of Guernsey applying the "Common Reporting Standard", a global deal of automated information exchange on taxes.

Investigations are also reportedly being conducted by Singapore's central bank, the Monetary Authority of Singapore (MAS) and Guernsey's financial authority, the Guernseys Financial Service Commission

News Comment

Today's Industry

SUNeVision Initiates MEGA IDC Phase Two Development

Jumat, 28 Maret 2025 - 22:21 WIB

SUNeVision Initiates MEGA IDC Phase Two Development

SUNeVision, the technology arm of Sun Hung Kai Properties (SHKP), today announced the commencement of construction for Phase Two of MEGA IDC in Tseung Kwan O. As Hong Kong's largest data centre…

 PT Metrodata Electronics Tbk (“MTDL”)

Jumat, 28 Maret 2025 - 22:07 WIB

TDL Records New Revenue Record of IDR 25 Trillion in 2024 Ahead of 50th Anniversary

PT Metrodata Electronics Tbk (MTDL), the largest technology Company with the most complete IT and telecommunications products in Indonesia, managed to record a revenue of IDR 25 trillion in…

Wireless Logic

Jumat, 28 Maret 2025 - 22:00 WIB

Wireless Logic Selected By Thales As IoT Connectivity Partner

Wireless Logic, a global leader in IoT connectivity solutions has been selected by Thales, a global leader in advanced eSIM technologies, to enable secure, scalable and resilient IoT connectivity…

Microvista Expands International Presence with Mobile CT System ScanExpress

Jumat, 28 Maret 2025 - 21:53 WIB

Microvista Expands International Presence with Mobile CT System ScanExpress

The German specialist in industrial computed tomography and non-destructive testing, Microvista, announces the European expansion of its innovative mobile CT system, ScanExpress. The system…

Pekerja Industri Tekstil

Jumat, 28 Maret 2025 - 21:44 WIB

Turning Loss into Profit, INOV Optimistic in Maintaining Positive Performance this Year

PT Inocycle Technology Group Tbk (INOV:IJ) Indonesia's leading and largest PET waste recycling Company managed to book sales of IDR 629 Billion in 2024, an increase of 4.8% compared to the previous…