Day: February 21, 2024

Questioning Preliminary Evidence Examination in Tax Crimes

Feb 21, 2024 |

Last year, an individual taxpayer named Surianingsih and a corporate taxpayer PT Putra Indah Jaya (PT PIJ) submitted judicial review application to the Constitutional Court and questioning the provisions of several articles in Law No. 7/2021 concerning Harmonization of Tax Regulations (UU HPP) which they believe is contrary to the 1945 Constitution. The articles in question regulates the authority of the Director General of Taxation to carry out preliminary evidence examinations before carrying out investigations into tax crimes. This week, the lawsuit was partially granted by the Assembly of Justices, but with several dissenting opinions.

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On Corruption in PT Timah

Feb 21, 2024 | ,

The investigation into the case of alleged corruption related to the tin trading system carried out in the Mining Business License (IUP) area owned by PT Timah Tbk (TINS) initially started as an ordinary routine. We all know that the mining sector is prone to corruption. But as the investigation went on and the Attorney General’s Office (AGO) finally found sufficient evidence, we learned that the scheme was supposedly created by the former President Director of PT Timah, Mochtar Riza Pahlevi Tabrani. That said, this is not an ordinary cas. With Riza’s help, dozens of puppet companies were allowed to operate on PT Timah operational area including other areas with no permit or license. By this week the AGO had named 11 suspects in two different cases and recently announced that the case supposedly caused ecological losses amounted to over Rp270 trillion. How could this happen?

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Private Placement of Harita Nickel

Feb 21, 2024 |

PT Trimegah Bangun Persada Tbk (NCKL), popular as Harita Nickel, has kicked off placement of up to 6.3 billion new shares to potential investor, proceeds of which will be used to finance expansion programs.

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The Losing Candidates’ Maneuver: Political Battle at DPR?

Feb 21, 2024 |

The real count conducted by the General Election Commission (KPU) as per this morning (Feb. 21) with 73.33 percent data collected is pointing to Prabowo Subianto-Gibran Rakabuming Raka’s lead with 58.55 percent, pretty much similar to quick count from various pollsters. Meanwhile, Anies Baswedan-Muhaimin Iskandar and Ganjar Pranowo-Mahfud MD only got 24.15 percent and 16.91 percent, respectively. Ganjar, a losing presidential candidate based on the quick count and real count, has not conceded yet and he even came up with the idea of pushing the House of Representatives (DPR) to use its right of inquiry (locally called as Hak Angket). Anies, another losing presidential candidate, couldn’t agree more with Ganjar’s idea. The question is whether their respective coalition of political parties will remain united at the DPR to push for the motion of using inquiry rights. Can they win a political battle at the DPR to pass the motion?

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Transition of Power & The Economy

Feb 21, 2024 |

Minister of Finance Sri Mulyani Indrawati is said to start discussing and compiling the macroeconomic framework and fiscal policy principles as the basis for the 2025 state budget (APBN). This is part of the transition from the government of President Joko Widodo (Jokowi) to the elected president who won the 2024 presidential election. As of today, Prabowo Subianto will likely be sworn in as the new president in October 2024.

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