Jakarta, June 9 -- The Finance Ministry has officially unsealed the Tiffany & Co. boutique at Plaza Indonesia in Jakarta after the luxury jeweler pledged to settle nearly Rp97.49 billion (around US$5.36 million) in unpaid customs duties, taxes, and administrative fines.

"The party concerned has committed to complying with all applicable laws and regulations," Finance Minister Purbaya Yudhi Sadewa said on Monday (June 8), noting that the company has agreed to pay the full amount, including administrative sanctions.

The Directorate General of Customs and Excise (DJBC) had earlier sealed three of the brand's prominent in Jakarta located at Plaza Senayan, Plaza Indonesia and Pacific Place following alleged customs violations.

The measure w...