Pajak Pertambahan Nilai (PPN) sebesar 12 persen akan resmi diberlakukan pada 1 Januari 2025. Hal ini telah diumumkan para Menteri Ekonomi Kabinet Merah Putih pada Senin, 16 Desember 2024.
Meski demikian, tarif PPN 12 persen ini tidak berlaku untuk semua barang. Kenaikan hanya berlaku untuk produk barang dan jasa mewah.
Menteri Keuangan Sri Mulyani Indrawati menyebut salah satu produk atau jasa mewah yang dikenakan PPN 12 persen, termasuk di sektor pelayanan kesehatan hingga pendidikan di segmen premium.
Kenaikan ini tentunya menimbulkan berbagai pertanyaan penting. Apakah langkah ini mampu mendukung penerimaan negara, atau justru bisa memberikan dampak yang kurang menguntungkan bagi daya beli masyarakat, sektor usaha, dan daya saing Indonesia secara global?
Meski demikian, tarif PPN 12 persen ini tidak berlaku untuk semua barang. Kenaikan hanya berlaku untuk produk barang dan jasa mewah.
Menteri Keuangan Sri Mulyani Indrawati menyebut salah satu produk atau jasa mewah yang dikenakan PPN 12 persen, termasuk di sektor pelayanan kesehatan hingga pendidikan di segmen premium.
Kenaikan ini tentunya menimbulkan berbagai pertanyaan penting. Apakah langkah ini mampu mendukung penerimaan negara, atau justru bisa memberikan dampak yang kurang menguntungkan bagi daya beli masyarakat, sektor usaha, dan daya saing Indonesia secara global?
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TVTranscript
00:00When the PPN rises from 11% to 12%, it will hit the purchasing power of the people.
00:05This will be an extraordinary challenge for the people.
00:092024, potential shortfall.
00:11Later we will enter 2025, the tax target will even be raised again to more than Rp 2,100 trillion.
00:17Our economy is significantly supported by the purchasing power of the people or household consumption.
00:21Hello investors, welcome back to your home of finance and investment with me, Rosalind Tuh.
00:33And this time I am with an extraordinary guest, Mr. Ajib Hafdani.
00:38He is the economic policy analyst from Apindo.
00:42May I greet you first, sir? How are you?
00:44Very good, Ma'am.
00:46How is the economy today, sir?
00:48The economy is full of challenges.
00:53I invite Mr. Ajib and ADX Channel here to discuss the recent rise in PPN to 12%.
01:03We all know that the PPN tax has been officially raised to 12%.
01:09It was officially done on January 1, 2025.
01:14And even though the PPN tax has been raised to 12%, it does not apply to all goods.
01:19It only applies to goods or services that are considered luxurious.
01:25The Ministry of Finance calls one of the luxury goods or services that are subject to PPN 12%
01:31include in the health service sector to education in the premium segment, Mr. Ajib.
01:35This rise raises various important questions.
01:38Is this step really able to support the government or is it just a boomerang
01:43to target the 8% economic growth because it attacks the purchasing power of the people?
01:48We will immediately discuss with Mr. Ajib Hafdani.
01:51What is your point of view from Apindo?
01:55We have some critical notes on the government policy to raise the PPN tax from 11% to 12%.
02:04At least we note three things.
02:06The first point, if we set back,
02:09previously the government stated that the PPN tax was raised only on luxury goods.
02:14That's what it said.
02:16But then when the government officially announced that the tax rate would increase by 12%,
02:21Ms. Ocha, it turns out that the PPN tax was raised on all luxury goods and all services.
02:26That's the point.
02:27But if it is said that there are some luxury goods that are subject to PPN 12%,
02:31that's an addition.
02:33So, what was previously not subject to PPN was added as an object that became a luxury goods.
02:38But the general point is,
02:41raising the PPN tax by 12% is on all luxury goods and all services.
02:45This is the first point.
02:46The second point means,
02:48the government made a plot twist when it stated that it was only on luxury goods,
02:52but it turned out to be on all goods.
02:53This is what the government has to state fairly to the whole community
02:56that this is applied to all goods.
02:59The second point that Ms. Ocha also criticized.
03:03Actually, the definition of PPN, or the first tax rate,
03:07is a type of tax that is indirect.
03:10So, the income, the payment, and the burden is applied to the whole community
03:15and all end-buyers.
03:17Be it the poor, the middle class, or the rich,
03:20all of them.
03:21When someone constructs a luxury goods,
03:23the PPN is automatically raised by 12%.
03:25But Ms. Ocha,
03:26actually in the context of administration,
03:29funding, and distribution to the country,
03:31it is done by the entrepreneur.
03:33So, it is not a country that raises the PPN directly,
03:36but the entrepreneur helps.
03:38The problem is,
03:40when the government designs such a complicated regulation,
03:43for example,
03:44when there is 12% but 11% of general tax,
03:471% of GDP,
03:49or in the hands of the government.
03:51This will be a problem in the field, Ms. Ocha.
03:53Because the income will not be as easy as that.
03:55When the GDP is 1% and 11% of general tax,
03:59the entrepreneur helps to activate and raise the PPN.
04:02They create two factors, for example,
04:04different codes, and so on.
04:06Ms. Ocha, can you imagine?
04:07When there is such a complicated administration,
04:10when the two factors are wrong,
04:12the two possibilities are not recognized,
04:14so it cannot be credited,
04:16or it will create a burden and sanctions, for example.
04:19In the next condition,
04:21the government should sit together with the entrepreneur.
04:23The entrepreneur is the partner of the government
04:25to activate the PPN.
04:27Sit together with the entrepreneur to design.
04:29How the government policies
04:32can be applicable to the people
04:34and can be carried out well.
04:36By the people,
04:37and with the help of the entrepreneur.
04:39That is the second point.
04:40The last point, Ms. Ocha.
04:41If we pay attention,
04:44and I agree with Ms. Ocha at the beginning,
04:46when the PPN rises from 11% to 12%,
04:49it will hit the purchasing power of the people.
04:51This will be a great challenge for the people.
04:55The government should be able to push the policies
04:58that also support the purchasing power of the people.
05:00But the problem is,
05:01the policies that are pushed as a medicine,
05:08as a balance,
05:10I think it is not proportional and not precise.
05:12For example, the government should,
05:14when the PPN hits the people,
05:17the government should increase the PTPKP, for example.
05:19The income will not be taxed, for example.
05:21Because our PTPKP has never risen since 2016.
05:24The PMK number 1 was issued in 2016.
05:27Or even, for example,
05:28when the PMKM whose PTH rate was only 0.5%,
05:31it was already good enough when the government
05:33increased the period of time up to one year.
05:36But the problem is, there is a narrative
05:38that the 4.8 billion Rupiah per year
05:41will be reduced to 3.6 billion Rupiah per year
05:44because of recommendations from OECD, for example.
05:46Narratives like this are counterproductive
05:49to the economic growth.
05:50So, our hope is,
05:52when the government pushes the fiscal policy
05:55to be a disincentive,
05:57it should be fair
05:58to push other fiscal policies
06:00in a more market-friendly incentive context.
06:02That's it, Ms. Oca.
06:03That's right.
06:04Because the government said,
06:05as a balancer of this PPN increase,
06:08there are a number of incentives,
06:09there are a number of stimulus,
06:11which if you look at it,
06:12the conditional is quite a lot,
06:14quite complex,
06:15and it's not clear yet
06:16what the content and details are like.
06:18There were three points that Mr. Ajib mentioned,
06:20but the first point,
06:21I want to draw attention to discuss,
06:24there are a number of goods,
06:25it is said that goods that are not taxed
06:28are not luxury goods.
06:29But then there are a number of goods,
06:31such as meat, fruit, vegetables.
06:34It seems that meat and fruit
06:36are just meat and fruit.
06:37Now there is premium meat,
06:39there is premium fruit,
06:40there is also premium rice.
06:43In the end, it means adding,
06:45adding what was not luxury goods,
06:47so there is an additional list of luxury goods, right?
06:49Actually, if we criticize the government's policy,
06:52first, the government raises the PPN rate
06:54from 11% to 2%
06:56for all VKP and GKP,
06:58goods taxed and services taxed.
07:00The second point is actually,
07:01on the same occasion,
07:03the government added what was included in the tax object,
07:05which was previously not included,
07:07for example, meat,
07:08all meat is free of PPN.
07:09But then it was revised,
07:11including luxury goods,
07:12such as Wagyu,
07:13school,
07:14with certain criteria,
07:15for example,
07:16then electricity,
07:18which is above Rp3,500,
07:20is taxed.
07:21That is part of the new object,
07:23which was previously not taxed,
07:24is now taxed,
07:25and directly 12%.
07:26So the point is,
07:28I think the government should be fair enough,
07:30how to convey in a populist language
07:32to the community,
07:34that this is the government's policy,
07:36this is the budgetary needs,
07:38because if we are satisfied with Mrs. Oja's criticism,
07:40that the government, in a nutshell,
07:42forced the increase of PPN rates
07:44in 2025,
07:46in the year 2025,
07:47in a way later,
07:48it is more because of the function of state finance needs,
07:51or budgetary.
07:52Why did I use quotes,
07:54use the term in a nutshell,
07:55is to force,
07:56because actually the government also has room,
07:58for,
07:59if not raising the rate first,
08:01but because,
08:02more because of the budgetary reality,
08:04how the needs of APBN,
08:06then the government raises the PPN rate.
08:09That's what we see,
08:10and we portrait Mrs. Oja.
08:12Besides because we also have laws
08:14that base the increase of PPN to 12%,
08:16but then talk about the increase of PPN,
08:18which is done per January 1, 2025.
08:21This is a question,
08:22why should it be 2025, sir?
08:23Why not 2024?
08:25Or maybe 2020,
08:26what is the urgency, sir?
08:27If we look at Mrs. Oja,
08:28this is more because,
08:29at least because of two things.
08:31The first thing is the legal aspect,
08:34how is the legal formal.
08:35Indeed,
08:36in fact,
08:37in the Law No. 7 of 2021,
08:39which we call,
08:40the Law on Harmonization of Taxation Regulations,
08:43in Article 7, verse 1, it does mention,
08:45that the government raises the PPN rate to 12%
08:48on January 1.
08:50But if the consideration is only one thing,
08:52actually,
08:53if we compare,
08:55if we compare with,
08:56in the same law,
08:58the government in April 2022,
09:00should impose a carbon tax, for example.
09:03But the fact is,
09:04the government has not yet agreed.
09:05It means,
09:06in this first context,
09:07if the government also has more space,
09:09they can just not raise the PPN rate.
09:12But the problem is in the second consideration.
09:14If we look at it,
09:15it is a question of budgetary needs.
09:17If we look at the data,
09:19Mrs. Oja,
09:20that in November 2024,
09:23our tax receipt is only Rp 1,680 trillion,
09:26or equal to 84%.
09:28And our assumption, Mrs. Oja,
09:29that at the end of the year,
09:32our tax receipt will be shortfall.
09:34Shortfall means it does not achieve the target.
09:36It does not reach 100%.
09:38Mrs. Oja, can you imagine,
09:39when in 2024, the potential is shortfall,
09:42later we will enter 2025,
09:43the tax target will even be raised again.
09:45To be more than Rp 2,100 trillion.
09:48It means,
09:49the reality of budgetary needs like this,
09:51then,
09:52our view is,
09:53the government pushes the target,
09:55because the PPN rate is still on schedule
09:57on January 1, 2025.
09:59Because,
10:00according to our economic mathematics, Mrs. Oja,
10:02that by raising the PPN rate from 11% to 12%,
10:05entering the state budget,
10:07without more effort from the government,
10:08it is estimated to be an increase of Rp 80-90 trillion.
10:11Isn't that right, Mrs. Oja?
10:12Wow.
10:13So actually,
10:14do you also see this as a form of
10:17self-doubt from the government
10:19about the potential shortfall,
10:21but the tax compliance does not feel maximal?
10:24Yes,
10:25this is indeed a portrait of how the government,
10:28the Ministry of Finance,
10:29has a low self-confidence
10:31with the infrastructure it has
10:33to be able to collect taxes maximally.
10:36Because there are indications.
10:38For example,
10:39from the tax ratio.
10:40Our tax ratio is around 10%.
10:42The average is like that.
10:43Then, our tax gap is still high, etc.
10:46Then,
10:48and this has never shifted far from the number.
10:51Then, when in 2025,
10:53faced with an extraordinary budgetary target,
10:56and our fiscal space is so narrow,
10:58because,
10:59even in 2025,
11:012026, 2027,
11:02for 3 consecutive years,
11:03we have to pay a debt
11:05of at least Rp 800 trillion every year.
11:07As a scaring effect from the pandemic yesterday.
11:10Okay, that's the reality of our fiscal space.
11:13But actually,
11:14if the government has
11:16creativity in tax collection,
11:18in 2025,
11:20there will be a lot of mitigation programs
11:22that can increase the potential of the shortfall.
11:25Actually, Mrs. Oja,
11:26that needs to be studied further by the government.
11:28Especially when it comes to
11:29the purchasing power of the people,
11:30especially the middle class.
11:32The trend in 2023
11:34has dropped quite drastically.
11:36The purchasing power of the middle class.
11:38Then,
11:39as Mr. Ajib said,
11:41the solution to increase
11:44the acceptance of the country,
11:46there should be another alternative solution.
11:48What do you think, Mr. Ajib?
11:50Okay, interesting.
11:51As mentioned by Mrs. Oja,
11:52first, we talk about the 2023 indicator
11:54which includes slowdown.
11:55Indeed, this is supported
11:57by the research from LPMU
11:59which states, Mrs. Oja,
12:00that since 2018,
12:02until 2023,
12:03more than 8.5 million Indonesian people
12:06have dropped out of class.
12:08Then, this is also supported by the indicator
12:10in 2024,
12:12Mrs. Oja,
12:13that, for example,
12:14deflation for 5 months in a row.
12:16This means that the purchasing power of the people
12:18is suffering.
12:20Then,
12:21how our TMI manufacturers
12:23also continue to experience construction
12:24below 50.
12:26So, the level of confidence of the manufacturers
12:28is also experiencing problems.
12:29So, in terms of supply and demand,
12:31we are facing problems.
12:33Well, once again,
12:34the government pushes policies,
12:36both fiscal and monetary policies,
12:38which are pro-economic growth
12:40by supporting the purchasing power of the people.
12:42Because if we look at the data in Indonesia,
12:45our economic growth
12:47is significantly supported by the purchasing power of the people
12:49or household consumption.
12:50Okay, lastly,
12:51Mrs. Oja also mentioned about
12:52how 2025
12:54has the potential of
12:56government officer, tax officer
12:58to increase tax collection.
13:00If we look at it,
13:01there are at least two things, Mrs. Oja.
13:03First,
13:04in 2025,
13:06the Ministry of Finance is releasing
13:08CoreTax.
13:09Where the Ministry of Finance
13:11in Dirjenpacha
13:13is encouraging
13:15digitalization
13:16and integrated database.
13:18It is very good.
13:19Because with CoreTax,
13:21our calculations,
13:23tax compliance will increase.
13:25The level of tax obligation will increase.
13:27That is the first thing.
13:28The second thing,
13:29where in Prolegnas 2025,
13:31there is also RUU Tax Amnesty Jilid 3.
13:35This is what we need to see.
13:37If we look at Tax Amnesty Jilid 1 in 2016,
13:39and Tax Amnesty Jilid 2 in 2022,
13:42actually, 2025 has the potential
13:44to collect money to the country
13:46not less than IDR 50-150 trillion.
13:48With some notes,
13:50Mrs. Oja.
13:51It means, actually,
13:52if the government increases IDR 50-150 trillion,
13:55by encouraging more massive CoreTax,
13:59and more precise Tax Amnesty in the community,
14:03then I'm sure it can be closed
14:06through the main program in 2025.
14:08That's it, Mrs. Oja.
14:09There are still other potential solutions,
14:11but maybe the government,
14:13I don't know what it's like,
14:14the consideration is
14:15to take it quickly.
14:17Take PPN 12%,
14:18the whole community is affected,
14:20I think it's enough
14:22to increase the target of the country's acceptance.
14:24But if we compare it
14:26with the trend in developed countries in the world,
14:29there seems to be an increase in PPN.
14:32But I don't think it's Apple to Apple,
14:34because the income per capita is different,
14:36the purchasing power of the community is different.
14:37Maybe if we look at Southeast Asia,
14:40Indonesia is almost close to the Philippines.
14:42The increase in PPN is quite drastic
14:44compared to Vietnam,
14:46which just lowered its PPN.
14:48If we look at our position in Southeast Asia,
14:50what is it like?
14:51If we compare it with developed countries,
14:53I agree with Mrs. Oja,
14:55this is not Apple to Apple,
14:56because we are part of an emerging country.
14:58From a developing country.
14:59A country that is still developing.
15:00There are still a lot of PRs,
15:02and our GDP per capita is only
15:04US$4,900 per capita per year.
15:08It means it's still far from the target
15:10of developed countries at US$10,000 per capita per year.
15:12Okay.
15:13Now, if we compare it with,
15:14it's interesting too,
15:15when we compare it with Vietnam,
15:17Vietnam even gave a fiscal stimulus,
15:19which lowered its PPN from US$10,000 to US$8,000.
15:22US$2,000 was lowered by the government.
15:24But the projection is,
15:25the consumption will increase by US$20,000.
15:26It's very measurable.
15:28It means,
15:29the Indonesian government,
15:31by looking at the data,
15:33that our domestic product,
15:35our GDP is not less than US$22,000 trillion,
15:38Mrs. Oja.
15:39But the problem is,
15:40more than US$58,000,
15:41our GDP is covered by household consumption.
15:43The government should,
15:44if we want to increase our GDP in 2025,
15:47the significant support in GDP
15:49in terms of household consumption,
15:51should be maintained.
15:52The purchasing power should be maintained.
15:53That's the hope of the business world.
15:55But here's the thing, Mrs. Oja.
15:56Anyway, the government has made an announcement
15:58on increasing the PPN rate by 12%.
16:00Like it or not,
16:01agree or disagree,
16:02this is the reality of the policy
16:03that we have to face together.
16:05The people have to pay for it.
16:07They have no choice.
16:08They don't have a choice.
16:09And the entrepreneurs,
16:10as government partners,
16:11have to help to organize,
16:13help to motivate the people,
16:15and help to spread to the country.
16:18So, the role of the entrepreneurs
16:19cannot be left here.
16:26Our message is,
16:27the government has to be with the people
16:29and with the entrepreneurs.
16:30The policy that we have made,
16:31has to be mitigated
16:32so that it can run well
16:33and not burden the people
16:34and also the entrepreneurs.
16:35Just like what Mrs. Oja said,
16:36the government has increased the PPN rate,
16:39giving more burden to the entrepreneurs.
16:41Something like this
16:42has to be mitigated by the government.
16:44And we have to always...
16:47Talking about economic growth,
16:48talking about having a narrative
16:50jumping from a developing country
16:52to a developing country,
16:53we are still in the middle income trap.
16:55This is not the government's sole responsibility
16:57to solve all of this.
16:59But it is the responsibility of the government,
17:01the people, and the entrepreneurs.
17:03So, the government should be more wise
17:05in making a policy.
17:07I think that's it, Mrs. Oja.
17:08Okay, the last one,
17:09the government's narrative
17:11is not just about increasing the PPN rate,
17:13but there is also an incentive,
17:15a stimulus.
17:16If we look at it,
17:17there is PPN-DTP for property,
17:18and PPH in a certain range,
17:21this is free,
17:22or the tax is partially paid by the government.
17:25Then there is also rice aid,
17:2710 kilograms per month.
17:29There is a 50% electricity discount
17:31for electricity below 2,200 volts ampere.
17:34But then,
17:35there are also some policies
17:37that are situational.
17:38If we look at it,
17:39there is PPN-DTP and PPH,
17:41I think this is just a form of extension
17:43from the previous policy.
17:44Yes, there is.
17:45The rice aid and electricity
17:46are said to be announced
17:48to be implemented in January and February.
17:50Do you think this is enough
17:51to be called a win-win solution
17:53or confusing?
17:55Actually, if it's called DTP,
17:57or the tax paid by the government,
17:59it's not a new thing.
18:00Actually, this is what we need to say,
18:02Mrs. Oja,
18:03to provide education
18:04and taxation literacy
18:05to the general public.
18:06The DTP is part of the tax cost
18:08or tax expenditure
18:10which in APBN is budgeted to exist.
18:15Every year, it's not less than 300 trillion
18:17for tax expenditure.
18:19And even if we look at the narrative in 2025,
18:22it's estimated to be 400 trillion.
18:25Because it will be equal to 2% of GDP.
18:27That's part of the tax expenditure.
18:30It exists for that.
18:31Then the government designs
18:33for tax expenditure
18:35in the sectors
18:37which become the lifting sector.
18:39Which can provide maximum leveraging
18:41for economic growth.
18:42That's our hope.
18:44But regardless of the conditions,
18:46Mrs. Oja,
18:47the business world will always have an optimistic narrative
18:49towards the economy.
18:51And we will enter 2025
18:53with an economic growth target
18:54which is estimated to be 5.2%
18:56Mrs. Oja.
18:57That's right.
18:58We are still optimistic.
18:59But how far has Mr. Ajip from APBN
19:01seen or is optimistic
19:03about the future cooperation
19:05with the government?
19:07How will the government listen to the aspirations?
19:09As mentioned earlier,
19:10technically, the invoices must be doubled.
19:12Administratively, it will be much more complex.
19:15And then,
19:16don't let this burden the community,
19:18but also the business community.
19:21APBN always portrays the conditions of the field in the community.
19:24The condition of the business,
19:26the economic condition in general,
19:27and the condition of purchasing power.
19:29And we always provide constructive input to the government.
19:32Even though it's outside our domain.
19:36Whether our input will be used or not.
19:38As an example,
19:39in 2025,
19:40we will enter a very challenging year for entrepreneurs.
19:42In other words,
19:43we are facing a double kill from the government.
19:45One, the increase of APBN's tariff by 12%.
19:47That's the fact.
19:48Then, the increase of UMP's tariff by 6.5%.
19:51This is quite an extraordinary number.
19:53A hit for the business world.
19:55And, Mrs. Oja,
19:56as we have mentioned,
19:57a survey from APINDO,
19:58throughout this year,
20:004 out of 10 entrepreneurs
20:02experience a stagnant omset.
20:04So, this should be a reminder for the government.
20:07How the government should encourage
20:09the domestic economy.
20:11How the domestic economy grows.
20:13Don't let the domestic economy
20:15face such an extraordinary challenge.
20:17Even,
20:18for example, the import of goods
20:20is out of control.
20:21Both legal and illegal goods.
20:23For example,
20:24this is a big task for all of us.
20:26So, our hope, Mrs. Oja,
20:27the government should be comprehensive.
20:29The fiscal policy,
20:30the monetary policy,
20:32the pro-economic regulation, for example.
20:35We haven't discussed in a broader context
20:38how the government's policy,
20:40which is not responsive to the market conditions,
20:43to support the domestic economy.
20:46The hope of APINDO, Mrs. Oja,
20:48is how the government should be focused and consistent.
20:50Because, no matter what,
20:52President Rabu Subianto and his associates
20:54have a program and a narrative
20:56of an escalating economic growth
20:58of 8% in the third or fourth year
21:00of the Blindau government.
21:01If there are many conditions,
21:03one of them is how the business world
21:05can grow well
21:06and the people's purchasing power is also maintained.
21:08And, APINDO will consistently provide
21:10the best and constructive input, Mrs. Oja.
21:12Okay. You said,
21:13from a businessman's point of view,
21:14it's a double-kill.
21:15There is an increase in PPN,
21:17then there is an increase in UMP,
21:19the people's purchasing power is more stressed.
21:21I am also a bit stressed.
21:23Because, if it's 12%,
21:24Netflix and Spotify will be banned.
21:26The quota will also increase.
21:28But, if we talk in a sectoral way,
21:31what sectors do you see
21:33that will be most affected
21:35in the future related to the increase in PPN?
21:37If there is an increase in PPN,
21:38then everything will be affected.
21:39Because, all the parameters are BKP and GKP.
21:41The goods will be taxed and the services will be taxed.
21:43Except for the goods that are excluded.
21:44But, it's troublesome.
21:45Even some of the goods that are excluded
21:47are now also part of the object.
21:49So, the point is,
21:50everything that is affected will be affected.
21:52But, if the people's purchasing power is also stressed,
21:54then their ability to spend
21:56for all the goods will also be affected.
22:01For example,
22:02what we mentioned earlier,
22:04buying a purse,
22:06or shopping,
22:08paying TV, etc.,
22:10is now 12%.
22:11When the spending is higher here,
22:13there is no choice.
22:14When the PPN variable increases,
22:17automatically,
22:18the spending in other places is reduced.
22:20For example,
22:21smoking one pack per day
22:22can be half a pack per day.
22:24This is called consumption.
22:25What we ate three times,
22:27becomes two and a half times, for example.
22:29The portion is reduced, etc.
22:30But, the point is,
22:31the impact is on all sectors,
22:34Ms. Ocha.
22:35But, one thing that we need to say
22:37and appreciate, Ms. Ocha,
22:38is that Gen Z is also affected
22:40by the increase in PPN tariff.
22:41Well, we mean from a positive point of view
22:43that Gen Z is also building
22:45the nation's economy
22:46through your tax payment.
22:47Something like that.
22:48So, don't forget,
22:49it's not only PPN that is increasing,
22:50but the tax compliance is also being observed.
22:52So, the government has made a policy,
22:54whether we like it or not,
22:56we support it,
22:57even though the concert ticket is also 12%.
22:59Oh yes.
23:00Because,
23:01the founder of America,
23:03Benjamin Franklin,
23:04said this, Ms. Ocha,
23:06there are only two things that are certain in this world,
23:08namely death and taxes.
23:10That's what they said.
23:11But, if we look at Indonesia,
23:13it will increase.
23:14There are three things that are certain in this world.
23:16One, taxes.
23:17Two, deaths.
23:18And three, God willing,
23:19Indonesia will enter the World Trade Organization.
23:21That's right, Ms. Ocha.
23:22That's right.
23:23Amen.
23:24Let's ask the question first.
23:25Okay.
23:26Okay, sir.
23:27Okay.
23:28We don't like that we all accept
23:29that the PPN is increasing by 12%.
23:30Okay.
23:31What should the government do
23:32to optimize
23:33the things that will continue
23:35to burden the society?
23:37What should the optimization be like, sir?
23:39The government must provide
23:40other fiscal incentives.
23:41Whether it's fiscal incentives,
23:42monetary incentives,
23:43or regulatory incentives.
23:45Because it's not just
23:46a fiscal incentive.
23:47For example,
23:48with monetary incentives,
23:50the level of credibility is reduced.
23:53So,
23:54now our credibility level is still relatively high.
23:56And even our commercial credit is high.
23:58Let's check.
23:59We borrow commercial credit in a bank, for example.
24:01It's still double-digit.
24:03Especially for consumption.
24:04Let's see.
24:05We want to credit
24:06consumer goods for us.
24:08Motor, car, or whatever.
24:10Without subsidies,
24:11we must be double-digit.
24:13We want to credit the house.
24:14If the house is not FLPP,
24:15usually the credit is 10% or 12%.
24:19A high credit
24:20is actually a burden to the society.
24:22Because the cost of fund
24:23is directly variable to HPP, actually.
24:25It goes into our savings and so on.
24:27So, our hope, Ms. Ocha,
24:28is that the government should be comprehensive.
24:30Through fiscal instruments,
24:31monetary instruments,
24:32and other regulatory incentives,
24:34it can continue to protect
24:36the national economy
24:38and also protect the people.
24:39That's all, Ms. Ocha.
24:40Okay.
24:41We'll wait for the government
24:42to present a win-win solution.
24:43Not just a policy
24:45to boost the country's income
24:47in 2025.
24:49But maybe we can talk about
24:50a global approach, Sir.
24:52Yes.
24:53How far is this policy, Sir?
24:54How will it affect
24:55our competitiveness
24:56in the international market?
24:59In the context of HPP,
25:00it must be about
25:01consumption in Indonesia, actually.
25:03The problem is
25:05it's not about
25:06our competitiveness
25:07against foreign products.
25:08But foreign products
25:09that enter Indonesia.
25:10This will be a problem.
25:11Because the external HPP
25:12is very small.
25:14Now, Ms. Ocha,
25:16please pay attention.
25:17For example,
25:18we shop online.
25:19Shopping online,
25:20maybe it reaches
25:21our house
25:22for small items.
25:23Maybe the product
25:24is not from Indonesia.
25:26The product could be from China,
25:28from Vietnam,
25:29from Thailand.
25:30That's the fact.
25:31Because their HPP is low.
25:32The selling price is low.
25:34So, the government
25:35protects the national economy.
25:38And I think
25:39the tax variable
25:41can be an incentive
25:42used by the government
25:43to push
25:44the competitiveness
25:45of domestic products.
25:46So, the PR, Ms. Ocha,
25:47in this context,
25:48is as a government
25:49to protect the competitiveness
25:50of domestic production
25:51compared to foreign products
25:53that enter Indonesia.
25:54That's about it, Ms. Ocha.
25:55Let's wait.
25:56Don't wait until
25:57our domestic production
25:58is suppressed.
25:59In the end,
26:00export is not maximized.
26:01It's suppressed by import.
26:02Especially illegal import.
26:03Okay, maybe
26:04the last one from Mr. Ajib
26:05as a conclusion.
26:06Maybe the hope
26:07from Apindo in the future
26:08and many coordinations
26:09will be done
26:10by the government, sir.
26:11Yes.
26:12The hope of the business world
26:13is how the government
26:14focuses on
26:15orientation
26:16and maintaining
26:17the national economy
26:18in a good way
26:19and a conducive
26:20and positive
26:21business climate.
26:22And once again,
26:23Apindo will always be ready
26:24to be a government partner
26:25to provide
26:26constructive input
26:27and how the portrait
26:28of the field
26:29will be delivered
26:30objectively
26:31and develop.
26:32That's it, Ms. Ocha.
26:33Amazing.
26:34Thank you so much,
26:35Mr. Ajib Hamdani.
26:36We'll wait
26:37how the government
26:38will complete
26:39the PPN 12% policy
26:40so that
26:41the people
26:42won't be frustrated
26:43and how Apindo
26:44can hear
26:45the aspiration.
26:46I mean,
26:47the government
26:48can hear the aspiration
26:49from Apindo.
26:50Amen.
26:51So that
26:52there won't be
26:53the next layoff.
26:54We'll wait
26:55how this thing
26:56can still
26:57support
26:58the 8% economic growth
26:59and especially
27:00Indonesia must
27:01in 2045.
27:02Amen.
27:03Thank you so much,
27:04Mr. Ajib Hamdani
27:05from Apindo
27:06for joining
27:07and being an inspiration
27:08for investors
27:09wherever you are
27:10and keep watching
27:11your home of finance
27:12and investment
27:13only on IDX channel
27:14Yield Trustworthy
27:15and Comprehensive
27:16Investment Reference.
27:17I'm Rosalind Cipamit,
27:18signing off.
27:19Thank you and see you next time.
27:37Transcribed by https://otter.ai