Jakarta, Aug. 29 -- Finance Minister Purbaya Yudhi Sadewa is seeking to recover potential tax revenue of up to Rp5 trillion (about US$282 million) from 40 steel companies that have not fully met their tax obligations.

"I have a list of 40 steel companies, and only one has been audited so far. We estimate there could be Rp4 trillion to 5 trillion in tax leakage," Purbaya told reporters at the Finance Ministry's office in Jakarta on Friday.

Purbaya said the move is part of the government's tax extensification strategy to expand tax revenue by ensuring companies comply with their tax obligations.

For example, he said the potential tax revenue from a single company could reach Rp1 trillion over a three-year period.

The review includes inc...