Gov’t to Optimize Fair State Revenue through Harmonized Taxation Law, Minister Says

By : Nata Kesuma | Friday, October 08 2021 - 22:05 IWST

Minister of Finance Sri Mulyani Indrawati (Photo by: PR of Cabinet Secretariat)
Minister of Finance Sri Mulyani Indrawati (Photo by: PR of Cabinet Secretariat)

INDUSTRY.co.id - Law on Harmonized Taxation (UU HPP) is one of the milestones of Indonesia’s tax reforms, which is part of structural reforms to realize an Advanced Indonesia through a just, proper, and accountable taxation system.

Tax reform is also part of sustainable processes to boost economic recovery and national development through restructuring of taxation system so that the national economy can be more robust amid the pandemic and in face of future challenges.

The Harmonized Taxation Law must include the principles of justice, efficiency, legal certainty, usefulness, and national interests, according to Minister of Finance Sri Mulyani Indrawati on Thursday (07/10).

Sri Mulyani went on to say that the Harmonized Taxation Law aims to improve economic growth and support the acceleration of economic recovery, adding that, it also aims to optimize state revenue, realize fair taxation system, provide legal certainty, carry out administration reforms, and realize harmonized, consolidative taxation policy so that it can broaden the national tax base amid the age of globalization and digital technology.

Furthermore, through the Harmonized Taxation Law, the Government will continue to improve voluntary obedience of taxpayers.

On that occasion, Sri Mulyani also unveiled six points of policy improvement regulated in this new law, among others, income tax that will be implemented in 2022, value-added tax (VAT) that will be put in place on 1 April 2022, Voluntary Disclosure Program (VDP) that will only impose next year’s 1 January until 30 June, carbon tax that will be implemented on 1 April 2022, several adjustments to Law on General Provisions and Taxation Procedures and Law on Excise that will be effective from the enactment of this law.
 

News Comment

Today's Industry

The President Director of PT Trimegah Sekuritas Indonesia Tbk (TRIM), Philmon Tanuri (left) delivered remarks at the kick off of Trimegah's collaboration with IA SBM-ITB in Jakarta on Wednesday (05/06/2024).

Jumat, 07 Juni 2024 - 19:43 WIB

Trimegah Sekuritas Supports Ikatan Alumni SBM-ITB to Realise Lifelong Learning Mission

In order to realise its mission of “Educate and create wealth for community through unique and professional investment experience”, PT Trimegah Sekuritas Indonesia Tbk (TRIM) collaborates…

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…