1 month ago
41
December 7, 2024 | 11:38 pm
TEMPO.CO, Jakarta - The Finance Ministry said that the list of luxury goods subjected to a 12 percent value-added tax (VAT) is still being discussed internally. The information was conveyed an official of the Fiscal Policy Agency (BKF) of the Finance Ministry.
"Still under discussion," said the Head of the Budget Policy Center for State Revenue and Expenditure (APBN) BKF, Wahyu Utomo in a text message to Tempo on Saturday, December 7, 2024.
President Prabowo Subianto has confirmed that new VAT tariff will be implemented in accordance with the law starting in January 2025. However, Prabowo emphasized that the 12 percent VAT will be imposed only on selected goods.
"Selective only for luxury goods, we will still protect the other people, since late 2023, the government stopped collecting what should have been collected. To defend and help small people," said Prabowo during a statement in the Presidential Palace complex on Friday afternoon, December 6, 2024.
Previously, on a different occasion, the Coordinating Ministry for Economic Affairs stated that the list of luxury goods subjected to a 12 percent VAT will be regulated by Finance Minister Sri Mulyani. Secretary of the Coordinating Ministry for Economic Affairs Susiwijono Moegiarso, mentioned that President Prabowo has assigned this task to Sri Mulyani.
"The President explained that the technical details will be arranged by the Finance Minister," said Susi when asked about this matter at the Coordinating Ministry for Economic Affairs office in Central Jakarta on Friday, December 6, 2024.
Susiwijono mentioned that determining luxury goods that will be subjected to the increased VAT is the task of Tax Directorate General officials at the Finance Ministry. He stated that the types of commodities exempted from VAT have been regulated in Government Regulation (PP) No. 49 of 2022.
NABILLA AZZAHRA
Editor's pick: Prabowo to Increase VAT for Luxury Goods in 2025
Click here to get the latest news updates from Tempo on Google News
Prabowo to Increase VAT for Luxury Goods in 2025
2 jam lalu
President Prabowo will be increasing VAT for luxury goods next year as the government sets new targets.
Prabowo Says 12 Percent VAT to Be Applied Selectively Next Year
14 jam lalu
President Prabowo ensures that VAT increase will be implemented in accordance with the law starting in January 2025, for luxury goods.
Today's Top 3 News: Prabowo Approves VAT Hike to 12% Next Year but Only for Luxury Goods
1 hari lalu
Here is the list of the top 3 news on Tempo English today.
Prabowo Approves VAT Hike to 12% Next Year but Only for Luxury Goods
1 hari lalu
Indonesian President Prabowo Subianto has approved a limited increase in Value Added Tax (VAT) from 11% to 12%.
Sri Mulyani Remains Silent on VAT
3 hari lalu
Sri Mulyani is reluctant to comment on the VAT increase, but her subordinates indicate that the tax hike will remain unchanged.
Government and Parliament Pass the Buck on VAT Hike to 12%
4 hari lalu
As the January 2025 deadline for the value-added tax (VAT) increase from 11% to 12% looms, uncertainty persists regarding the policy's implementation.
Arsjad Rasjid Requests Delay of 12 Percent VAT Increase Due to Economic Situation
7 hari lalu
Kadin Chief Arsjad Rasjid asks the government to postpone the increase iThe Chairman of the Natn Value Added Tax (VAT) from 11 percent to 12 percent.
Today's Top 3 News: Luhut Pandjaitan, Garuda Indonesia Meet Boeing to Discuss Lower Airfare
9 hari lalu
Here is the list of the top 3 news on Tempo English today.
Understanding Value Added Tax (VAT) and How It Works
9 hari lalu
VAT serves as a prominent tax system in several countries. But, what is a VAT? Here's a brief explanation of the taxing system.
Luhut Reveals Why Prabowo Delay the 12% VAT Implementation in Indonesia
9 hari lalu
Pros and cons of adopting 12% VAT by January 1, 2025 were addressed by Economic Council Chair Luhut, who claimed that Prabowo would postpone it.
