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Palm Oil Companies that the Head Quarters are Abroad Would Potentially be The Loss of Tax Income



Palm Oil Companies that the Head Quarters are Abroad Would Potentially be The Loss of Tax Income

InfoSAWIT, JAKARTA – In his findings, Coordinator Minister in Investment and Maritime, Luhut Binsar Pandjaitan told that many big palm oil companies took much profits from Indonesia but their headquarters are abroad. If it is traced back, the companies whose headquarters are abroad, their stocks are affiliated with the people of Indonesia too.

He thought, the audit is running now to get and identify what palm oil businesses now run. The audit would cover about the large of plantation, the production, and the headquarters. In the future, he continued, the headquarters of palm oil plantations companies should be in Indonesia so that they pay the taxes.

Such companies potentially deliver loss for the income tax. “Imagine if they operate 300 – 500 thousand hectares. Their headquarters are abroad. They pay the taxes abroad. Not gonna happen. You have to move your headquarters to Indonesia,” Pandjaitan said, as quoted from Kompas, Friday (19/8/2022).

For information, Pandjaitan did not specifically mention the names of the companies that got much profits in Indonesia, but many big palm oil companies in Indonesia have their headquarters in Singapore.

Though they are abroad, some still have businessmen from Indonesia. besides, big palm oil plantation companies in Indonesia belong to foreign investors and mostly their headquarters are in Malaysia and Singapore. (T2)


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