Purbaya Confirms Tiffany & Co to Reopen Following Commitment to Pay Sanctions

Finance Minister Purbaya Yudhi Sadewa conducted a visit to the Tiffany & Co outlet in Plaza Indonesia to ensure the resumption of its operations. As previously reported, Tiffany & Co had committed customs violations involving the importation of goods that had not been declared and for which customs obligations had not been settled.

Following these violations, the Directorate General of Customs and Excise conducted a customs audit and issued a Customs Assessment Letter amounting to Rp97.49 billion, which includes an administrative fine of Rp78.50 billion. The management of Tiffany & Co has expressed its readiness to fulfil these obligations, including the payment of the administrative sanctions.

“The party concerned has committed to complying with all applicable laws and regulations,” stated Purbaya.

During the visit, Purbaya emphasised that the government consistently prioritises the principles of compliance, transparency, and accountability in its supervisory functions. “These efforts are undertaken to create a healthy business climate, providing certainty and business continuity for all business actors in order to support the national economy,” he said.

The Finance Minister also urged all business actors to consistently fulfil their obligations and adhere to the provisions established under the prevailing laws and regulations. He stressed that compliance is a vital foundation for creating a transparent and competitive business ecosystem. The government will continue to conduct consistent supervision while encouraging all business entities to maintain compliance with legal regulations.