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View all search resultsGovt unseals Tiffany & Co stores, imposes $5.3m fines
In February, the Jakarta Customs and Excise Directorate General shut down three Tiffany & Co outlets across Jakarta shopping malls, including Plaza Senayan, Plaza Indonesia and Pacific Place, over allegations of illegal imports.
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Security guards (far right) stand by United States luxury brand Tiffany & Co at the Plaza Senayan shopping mall in Central Jakarta. (Plaza Senayan website/-)
T
he Finance Ministry has lifted seals on three outlets of the United States luxury jeweler Tiffany & Co after the company confirmed its commitment to fulfilling customs obligations.
“The company has committed to complying with all applicable laws and regulations,” Finance Minister Purbaya Yudhi Sadewa said in a statement on Monday.
In February, the Jakarta Customs and Excise Directorate General shut down three Tiffany & Co outlets across Jakarta shopping malls, including Plaza Senayan, Plaza Indonesia and Pacific Place, over allegations of illegal imports.
Following audits, the customs office issued a total bill of Rp 97.49 billion (US$5.3 million) for customs violations, including Rp 78.5 billion in administrative sanctions and roughly Rp 18.99 billion in unpaid taxes such as import duties, value-added tax (VAT) and income tax (PPh).
Read also: Tiffany & Co stores sealed over alleged illegal imports
Purbaya emphasized that the government prioritized the "principles of compliance, transparency and accountability" in carrying out its oversight role, as well as in creating a healthy business climate, legal certainty and business continuity to support the economy.
The minister also urged all business operators to fulfil their obligations and comply with the laws.
