THE MACAO MONEY MACHINE: PROFIT SHIFTING AND TAX LEAKAGE IN INDONESIA’S WOOD PULP EXPORTS

On 19 May, a report from Global Financial Integrity says that it worked with the coalition of NGO to analyse the classification of the wood pulp as well as its movement between jurisdiction to determine any potential trade misinvoicing schemes (a form of trade-based money laundering) that could be involved.  A comparison of trade statistics compiled, respectively, by the governments of Indonesia and China highlights major discrepancies in the trade of dissolving pulp, a specialized grade of wood pulp used in the manufacture of textile products.  The coalition of civil society organisations behind the report call on the Government of Indonesia to implement a number of recommendations.

https://secureservercdn.net/45.40.149.159/34n.8bd.myftpupload.com/wp-content/uploads/2021/05/Macao-Money-Machine-Nov-2020.pdf?time=1622144571

 

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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