Belinda getting married

Sukanto Tanoto’s favorite daughter is getting marries in June.

After the big engagement party last year Belinda will be marrying You Ning Sun in Singapore June 18, 2014.

Who is You Ning Sun? Another Rich Singaporean,  graduated from Pomona College and Harvard MBA Graduate, working as Analyst at Angel Island Partners in Boston MA.

With the help of Ning Sun Belinda can expand her offshore company. http://offshoreleaks.icij.org/nodes/91958

 

you ning sun

 

You can buy Belinda & Sun a present http://registry.theknot.com/belinda-tanoto-you-ning-sun-june-2014/6212871. They like this $250 knife
Jill Stuart Spring 2008 Fashion Show.aef7dca6d2f504dd9cd379cbda2d268d Wf7f39235b146c52771182282ceecde15

 

Advertisements

Sukanto Tanto wrote a scientific paper?

Sukanto Tanoto who got the Dean’s prize from Wharton, UPenn for his corrupt business now wrote a scientifc paper. Published in American Journal of Business, Economics and Management. Vol. 1, No. 1, 2013, pp. 25-29.

Sukanto Tanoto. Tax Avoidance through Tax Havens and Transfer Pricing -A Case Study in Indonesia. American Journal of Business, Economics and Management. Vol. 1, No. 1, 2013, pp. 25-29.

Clearly a joke made by someone who loves Sukanto.

 

Tax avoidance through tax havens and transfer pricing -A case study in Indonesia by SukantoTanoto

Sukanto Tanoto: clean up or get out

The World Business Council for Sustainable Development has warned APRIL: end your massive deforestation or you will be expelled.

GP04NJF

 

The second largest pulp and paper company in Indonesia, has today been threatened with expulsion from the World Business Council for Sustainable Development (WBCSD), a coalition of some 200 international companies committed to sustainability, unless it can demonstrate that it has ended its role in deforestation.

APRIL’s membership has been put on formal probation, and has been given twelve months to comply. APRIL’s membership of the WBCSD’s Forest Solutions Group (FSG) has also been suspended. Further, the WBCSD has recommended that ‘APRIL consider transferring membership to its parent company – the [Royal Golden Eagle] RGE Group – covering all its various operating units; including prospects of aligning RGE’s other forest industry operations with the FSG membership principles’.

“When an organisation led by CEOs of some of the world’s biggest corporations threatens to kick it out of the club, then you would think APRIL would listen. It’s time for APRIL to take this threat seriously and finally implement an immediate moratorium on all further forest clearance. If companies like APP can, then what is APRIL waiting for?” said Phil Aikman, Senior Campaigner at Greenpeace.

Greenpeace wrote to the WBCSD in February 2013 urging them to suspend APRIL’s membership given the company’s current position as Indonesia’s lead driver of deforestation for pulp. Greenpeace has subsequently been in regular communications with the WBCSD Secretariat to provide additional evidence on the ongoing activities of APRIL and its sister companies within the RGE conglomerate. RGE is controlled by Indonesian business tycoon, Mr Sukanto Tanoto, whose companies include Toba Pulp Lestari, Asian Agri, Asian Symbol and Sateri.

Recent government data reveal that an incredible 60% of fibre supply to APRIL’s pulp mill in Indonesia is rainforest wood. Confidential data indicate that in 2012, APRIL suppliers planned to clear some 60,000 hectares of rainforest (equivalent to 230 football pitches a day).

“The WBCSD has given APRIL one year to end its role in deforestation or face expulsion. Given APRIL’s recent heavy dependence on rainforest fibre, Greenpeace has serious concerns about APRIL’s commitment to a zero deforestation policy and any ambition it may have to become 100% reliant on plantation fibre. Greenpeace will continue to expose APRIL and RGE’s role in forest destruction and cut through the game of smoke and mirrors the company is playing with its customers,” said Phil Aikman

While APRIL claims it will stop clearing areas of rainforests by the end of 2014, the company has a history of setting artificial targets to ending it role in deforestation. In 2003, APRIL claimed that ‘by 2008/9 APRIL’s tree plantations will be supporting all of the pulp mill’s requirement for 2 million tons of pulp production’. In 2010 it stated that ‘we plan to complete the fibre plantation for this area within the next two years.’

Asian Agri set to lose assets

The beginning of 2014 shows people are sick of Sukanto Tanoto. Sukanto is always above the law, untouchables. How long can he stand for.
Could 2014 start to see his downfall for all his corruption and sins?

First The Attorney General’s Office is preparing to confiscate assets belonging to the Asian Agri Group for the tax evasion.
Second Sustainability organisation WBCSD warns APRIL: clean up or get out

vlcsnap-2013-07-06-20h34m03s178

Sukanto Tanoto still has a golden hand?
The Attorney General’s Office (AGO) is preparing to confiscate assets belonging to the Asian Agri Group, an agribusiness giant found guilty of tax evasion in 2012, if the firm fails to pay Rp 2.52 trillion (US$206.6 million) in fines by Feb. 1.

Attorney General Basrief Arief said on Thursday that his office had determined which assets of the company the AGO would confiscate, including Asian Agri’s 165,000 hectares of plantation land in Jambi, Riau and North Sumatra.

“Aside from that, we have also collected information on 19 palm oil refineries in the three provinces as well as office buildings belonging to its 14 subsidiaries. We estimate the total value of the assets is around Rp 5.3 trillion,” he told a press conference on Thursday.

Basrief said he had dispatched a special team in December last year to track down Asian Agri’s assets that were registered as collateral for loans from the Credit Suisse Group in London.

Asian Agri apparently used some of its assets as a guarantee to obtain a $125 million loan from the Swiss-based bank.

The AGO also confirmed that it had asked State-Owned Enterprises Minister Dahlan Iskan to keep the operations of the plantations and oil refineries running in the event the agency moves to seize the assets.

“After the seizure, the plantations and mills will continue to operate, to normal or even maximum capacity. This is to ensure that the livelihoods of the company’s employees will not be affected,” Dahlan said at the press conference, which was held at AGO headquarters in South Jakarta.

The case surrounding Asian Agri is the biggest and most controversial tax evasion case in the nation’s history, involving one of the largest oil palm plantation companies.

Currently, the company employs 25,000 people and has partnerships with 29,000 plasma farmers.

Asian Agri, which was founded in 1979, is owned by tycoon Sukanto Tanoto, the 10th-richest person in the country with a net worth of $2.3 billion — according to Forbes’ 2013 list of Indonesia’s 50 richest people.

Asian Agri’s problems began in 2006, when the firm’s then-comptroller, Vincentius Amin Sutanto, was reported to the police for embezzling $3 million from the company.

He fled to Singapore, from where he hit back at his former employer by making public allegations that Asian Agri was committing tax evasion.

In 2007, Vincentius was sentenced to 11 years’ imprisonment for money laundering and his participation in the tax evasion scheme.

The Supreme Court ruled on Dec. 18, 2012, that the company had 12 months from the announcement of the verdict to pay Rp 2.5 trillion in fines or 200 percent of its tax obligation, or its assets would be confiscated.

In 2012, the Supreme Court also found Asian Agri’s former tax manager, Suwir Laut, guilty of understating the annual tax obligations of Asian Agri’s 14 subsidiaries between 2002 and 2005, which led to state losses of potential revenue of Rp 1.26 trillion.

Aside from sentencing Suwir to two years in prison, the court ordered the company to pay Rp 4.4 trillion, comprising Rp 1.9 trillion in back taxes and another Rp 2.5 trillion in fines.

Basrief said that Asian Agri had to pay the fines by Feb. 1, one year after the AGO had given the company a copy of the verdict.

Director general of taxation Fuad Rachmany said Asian Agri had in fact asked for a lower tax obligation via an appeal to the Taxation Court.

“The firm paid half of its Rp 1.9 trillion tax obligation, as a prerequisite to filing an appeal with the court. The payment of the remaining amount will be based on the court’s verdict. The appeal may convene in the middle of this year,” he said.

Fuad also implied that his office could confiscate Asian Agri’s assets to pay the remaining tax obligation before the Taxation Court issued a ruling.

“According to the Tax Collection Law, an appeal request does not stop the tax collection process. If there is a strong reason, we will commence a process of confiscation before the court makes a decision. So, I call on the company to pay its tax obligation right away,” he said.

In a press statement made available to The Jakarta Post on Thursday, Asian Agri general manager Freddy Widjaja said the company “has always abided by the law in the country and has always fulfilled its tax obligations”.

He added that Asian Agri’s motivation in requesting the appeal was to “get a fair decision on a groundless tax obligation” and to obtain details on the calculation of the tax obligation and fines.

Freddy also confirmed that the company had registered some of its assets as collateral with Credit
Suisse.