Petra Foods expects victory against Indonesian authorities
November 24, 2011
Sophie Ashley - TPW
Petra Foods, an Indonesian taxpayer, has referred to previous payments for a transfer pricing adjustment as recoverable in its third-quarter 2011 statement, meaning it expects to win its dispute with the Indonesian Tax Office.
The amount applies to financial year 2009 when the Indonesian Director General of Taxation imposed a transfer pricing assessment of IDR71.9 billion ($7.9 million) on PT General Food Industries, which is a wholly owned Indonesian subsidiary of Petra Foods.
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