Companies are Obliged to Submit Financial Statement to the State

Companies are obliged to  submit their financial statement to the state. it is in accordance with the legal rule article number 24,1998. Coordinating minister of economy affairs, darmin nasution asserted that it's compulsory for the companies to report condition of their finance thus the state will be able to monitor their up date conditions.

So far, many companies have not submitted financial statement. It's mostly caused of no attached criminal sanction for the case. As it is stated in article 24,1998 all the companies which mobilizing public funds or having asset at least $50 billion are required to report their financial statement to the state. 

Indeed, the appeal of darmin nasution is closely related to the plan of companies date base income by the state. This is necessary to monitor the condition of companies particularly to determine tax base. Through the statement of finance, the finance ministry can easily measure the amount of tax supposed to be paid by companies thus minimizing tax evaders. The appeal is closely related to the plan of finance minister to enlarge tax base.