Politics
12% tax proves to be legacy of Jokowi's cabinet to reduce state debt – Magelang News
Magelang News – According to tempo.co, the increase in the value-added tax (VAT) rate in Indonesia from 10% to 11% on April 1, 2022, and plans for a further increase to 12% on January 1, 2025, have been determined during the administration of President Joko Widodo (Jokowi). This policy is governed by Law Number 7 of 2021 Concerning Harmonization of Tax Regulations (HPP), which was prepared by the Indonesian Advanced Cabinet under the leadership of President Jokowi.
The main objective of increasing the VAT rate is to increase state revenue, reduce dependence on external debt and adapt to international standards.
Minister of Finance Sri Mulyani Indrawati emphasized that the increase in the VAT rate to 12% will continue to be implemented according to the schedule set in the HPP Law. He said the State Revenue and Expenditure Budget (APBN) must be kept healthy so that it is able to respond to various crises, such as the global financial crisis and the pandemic.
However, this policy has attracted criticism from various groups. Some fear that an increase in VAT could have a negative impact on citizens' purchasing power and economic growth. In response, the government plans to implement a selective increase in VAT, with a focus on luxury goods, in order to maintain the principles of justice and mutual cooperation.
Thus, increasing the VAT rate to 12% is a policy formulated under the leadership of President Joko Widodo, with the aim of strengthening the national economy and adapting it to international tax standards.
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