Politics
The president's special adviser once rejected a VAT increase proposal
Jakarta –
The plan to increase the value added tax (VAT) to 12% has met resistance from several parties. President Prabowo Subianto's special advisor for economic affairs, Bambang Brodjonegoro, admitted that he rejected the VAT increase proposal.
Bambang said he received the proposal to increase VAT from businessmen when he was still Minister of Finance (Menkeu) during the era of President Joko Widodo (Jokowi). The entrepreneurs are proposing to increase VAT and reduce the corporate income tax (PPh) rate to make it comparable to Singapore's.
“To be honest, I personally received this proposal from the business community in 2015. When I was finance minister, this talk had emerged. What if we could compete with Singapore, get bigger investments, sir, reduce the 'Corporate income tax at the level at which we compete with Singapore,' he was quoted as saying detikFinanceFriday (12/27/2024).
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At that time, according to Bambang, Singapore's corporate tax rate was low, at just 17%. Meanwhile, Indonesia is still at the 25% level before finally dropping to 22% in 2022 after the promulgation of the Tax Regulations Harmonization Law (UU HPP).
When he heard the proposal, Bambang asked the businessman who made the suggestion, if the government reduced the corporate tax rate, how could the government maintain tax revenue.
The businessman, whose name from Bambang was not mentioned, then responded that the government could increase tax revenue from lowering the corporate tax rate by gradually increasing the VAT rate . As is known, the VAT rate finally increased gradually according to the mandate of the HPP law from 10% to 11% in 2022 and must be 12% in 2025.
Hearing this response, Bambang immediately said that it would be unfair to reduce the corporate tax rate by increasing the VAT rate. This is because VAT is imposed on goods and services used by the entire Indonesian population, while corporate tax is only imposed on businesses that have become taxpayers or whose income is already high.
“So I immediately refused and noticed that it took a long time between 2015 and the publication of the HPP law in 2021, six years, right? Well, I don't understand why this was done because I already knew the consequences of having to increase VAT,” Bambang said.
Bambang argued that Indonesia should not have to compete with Singapore in lowering corporate tax rates because the demographics and geography are very different. Singapore is just a small island country with a small population, while Indonesia is the largest archipelagic country in the world.
“In my opinion, the competition is unfair because whatever tax Singapore receives is only used to meet the needs of 5 million people on one island. So for Singapore to be as generous as the Singaporeans, it must be low, not much. So even if they want a rate lower than that, it's not a problem,” Bambang said.
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Sources 2/ https://www.detik.com/sumut/bisnis/d-7706539/penasihat-khusus-presiden-pernah-tolak-usulan-kenaikan-ppn The mention sources can contact us to remove/changing this article |
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