Purbaya Says Tiffany & Co Sealing Related to Alleged Smuggling and Underinvoicing

Finance Minister Purbaya Yudhi Sadewa stated that the sealing of three Tiffany & Co luxury jewelry stores some time ago was due to alleged smuggling practices and underinvoicing — paying lower than the actual value. He said his staff at the Directorate General of Customs and Excise Jakarta Regional Office had reported that the jewelry stores were unable to present Import Declaration Forms (PIB) as proof of import legality when verified.

“They were suspected of smuggling. When asked to show their trade forms, they couldn’t produce them,” Purbaya said, as quoted on Sunday, February 15, 2026.

He stressed that the sealing action aims to send a message to other business operators not to engage in similar practices. The manipulation of goods values suppresses revenue from the customs and tax sectors.

Purbaya also stated he will continue investigations into business operators suspected of smuggling illegal goods. “This is a good message to business operators who are not playing fair and causing losses, resulting in declining customs and tax revenue. Going forward, they won’t be able to do things like that anymore,” he said.

At the same time, Purbaya said his office is open to the possibility of collusion between business operators and internal Customs and Excise employees. He affirmed that he will also trace the parties involved in these actions.

“It seems there are employees involved. We’ll see who is involved. Those are the old ones. Now I’ve placed new officials. After I shuffled things around, the good ones are in front, so they dare to take action. I’ll look into what the legal consequences are,” he said.

The sealing by Customs and Excise was carried out at three Tiffany & Co jewelry stores at Plaza Senayan, Plaza Indonesia, and Pacific Place. Head of the Enforcement Section at the Directorate General of Customs and Excise Jakarta Regional Office, Siswo Kristyanto, explained that his office conducted operations targeting “high value goods” — items of high value suspected of not being declared on Import Declaration Forms.

The enforcement action followed instructions from Finance Minister Purbaya Yudhi Sadewa to explore revenue potential beyond what is customarily done in customs and excise. Siswo said the sealing action is a form of oversight and is still administrative in nature.