Banks forge reports, evade taxes<\/p>\n
JAKARTA (JP): A number of private banks manipulate their
\nfinancial reports to evade tax payments, Tax Director General
\nFuad Bawazier disclosed yesterday.<\/p>\n
Fuad refused to name which banks were engaged in such
\npractices but said that one of them was caught \"red-handed\" only
\nrecently.<\/p>\n
The alleged financial manipulation was unveiled at a hearing
\nwith the Finance and Trade Commission of the House of
\nRepresentatives.<\/p>\n
A number of private banks have, at least, two different
\nfinancial reports which they use for different purposes, he
\ncharged, adding that a financial statement showing poor
\nperformance is usually submitted to the taxation office to seek
\nlower tax payments and another one, indicating high achievement,
\nis submitted to Bank Indonesia, the central bank, to seek higher
\ncredit points.<\/p>\n
\"Unfortunately, a bank recently filed with our office the one
\nmeant for Bank Indonesia,\" he told the House members of his
\nfinding.<\/p>\n
\"When we charged a high tax, the bank asked for a tax
\nreduction. It later admitted that it filed the wrong financial
\nstatement.\" he said of the bank's technique in manipulating tax
\npayments.<\/p>\n
He said that the bank, instead of receiving a tax reduction,
\nwas fined for its practice. In addition, it was also reported to
\nthe central bank for the wrong doing.<\/p>\n
Fuad said that his office also found a number of other banks
\nmanipulating their financial statements after assessing their
\nreal financial reports.<\/p>\n
The tax office is allowed to verify a bank's financial
\naccounts despite the banking secrecy law.(hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/banks-forge-reports-evade-taxes-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
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