Thursday, May 27, 2010

Bakrie win

Indonesia's Supreme Court rejected agovernment appeal against a lower court ruling that denied
preliminary evidence in a tax investigation of PT Kaltim Prima Coal, or KPC, a unit of coal producer PT Bumi Resources Tbk.
Indonesia's tax office filed an appeal to the Supreme Court on March 29, asking the country's highest legal body to dismiss a December 2009 ruling by the Jakarta-based tax court that
faulted the steps taken in getting the preliminary evidence related to suspicions that KPC underreported its tax obligations.
A panel of three judges turned down that appeal on May 24, the Supreme Court said in a statement on its website.
Bumi is owned by the family of Aburizal Bakrie, Indonesia's fourth richest man, according to Forbes. Bakrie is chairman of Golkar, the country's second-largest political party, which is a
member of President Susilo Bambang Yudhoyono's ruling coalition.

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