RI rejects foreign investment?<\/p>\n
We, PT Southwest Screens & Filters (PT SSF), are a foreign
\ninvestment subsidiary of Southwest Screens & Filters, S.A (SSF
\nSA) Belgium.<\/p>\n
PT SSF has, as indicated in its financial statements from 1999
\nuntil 2002, experienced some losses. Therefore, every year PT SSF
\nhas submitted a tax claim. Our yearly tax assessment since 1999
\nuntil 2001 did not satisfy us at all as a dutiful foreign
\ninvestment firm. And our disappointment climaxed at the auditing
\nof our 2001 tax assessment (SPT) as detailed below:<\/p>\n
1. We reported our 2001 SPT in May 2002 (preceded by a
\npostponement demand).<\/p>\n
2. On March 24, 2003, we received by facsimile an \"order for a
\ntax audit\" dated July 31, 2002 issued by the Taxation Audit and
\nInvestigation Office of Special Jakarta One (KARIPKA).<\/p>\n
On March 28, 2003, we sent data requested by KARIPAKA to our
\ntax consultant, which was forwarded on and received by KARIPKA on
\nApril 7, 2003.<\/p>\n
3. On May 26, we received by fax the audit result, and on May 28,
\nwe returned to KARIPKA with supporting documents and details of
\ncalculation that proved there were mistakes in the auditor's
\ncalculations and perception. That day, they asked us to sign a
\n\"dossier of audit results\", which was without the investigator's
\nsignature. We still have not signed it.<\/p>\n
4. On June 2, we received the \"tax assessment (SKP) of tax
\nannouncement (SPT) 2001\" that was, in fact, issued on May 28,
\n2003, the day we submitted our objection and proof.<\/p>\n
It was really disappointing. How could a decision be made by
\nthe Tax Office without giving us time to defend our position on
\nthe audit result, which were obviously inaccurate? The
\nconsequence is one SKP report that clearly indicates a careless
\naudit. The calculation of the \"fiscal correction\" resulted from
\ncomparing the turnover we reported on the SPT with incoming
\ntransfers as recorded on our bank statement (with the assumption
\nthat all incoming transfers were from customers). But when we
\nrechecked the audit, we discovered miscalculations because of:<\/p>\n
1. The double summarization of one of our current accounts by the
\nadding of monthly and daily bank statements.<\/p>\n
2. In-house transfers were considered as incoming transfers from
\ncustomers.<\/p>\n
Certainly we will not accept the audit result, and we will
\nsoon submit an objection for processing. With such a bitter
\nexperience, we will not continue to invest in Indonesia, and
\ninstead remind future foreign investors to think deeper before
\ninvesting in Indonesia.<\/p>\n
DOMINIQUE THURION, Managing Director, PT Southwest Screens & Filters,
\nTangerang, Banten<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-rejects-foreign-investment-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}