Timah pays Rp 295 billiion to the state

State owned company Tambang Timah, the world's largest tin mining company contributed about Rp 295 billion to the state revenues in 1999, according to the company's president Erry Riyana Hardjapamekas.

Erry said on Wednesday that the real amount of the company's contribution to the state coffer had not been fixed because the auditing process of the financial report for the year had not been completed. But the estimated amount would be about Rp 295 billion.

He did not elaborate whether the contribution also include payments other than the company's income tax.

Speaking to reporters following a hearing with the House of Representatives, he estimated the company's contribution to the state coffer this year would increase to Rp 300 billion He said that in the period between 1994 to 1998, the company's contribution reached at total of Rp 777.49 billion, or about 10 percent of the company's total net income during the period.(*)