Indonesia’s local seoan company, Bornean Seo Company (BSS), was hit with a major tax fraud last year, the country’s National Tax Commission said in a report on Thursday.BSS was one of the local companies which were accused of fraudulently claiming the tax breaks given to it under the National Tax Administration Act of 2001.
The company’s tax affairs were also alleged to be rife with corruption.BASIC, a company based in Singapore, has also been investigated for alleged tax evasion and tax evasion, the report said.
The national tax commission said it had asked BASIC and BSS to submit information by June 28.
The companies, which are listed in Singapore and in Hong Kong, were accused last year of fraud involving over $30 million.
The report, titled ‘Investigation of the Tax System in Borneol’, said BASIC’s assets in Singapore totaled $11 million, BSS’s assets totaled $8 million and BASIC was the company with the highest net worth.BIS and BASIS had said that they were in the process of establishing a joint venture.
They also said they were not in any financial difficulty.BASEI, BASIC Indonesia’s tax agency, declined to comment.BBS did not immediately respond to a request for comment.
The government said in December that the country had reached the end of the year, with no cases of tax evasion.