Jakarta, April 8 (Antara) - The Indonesian Employers Association (Apindo) has hailed the government's decision to raise the annual non-taxable income (PTKP) amount from Rp36 million to Rp54 million.
The government has put forth a proposal to the House of Representatives to increase the PTKP from Rp36 million to Rp54 million per annum to be effective starting this year.
"It is a positive move and good for the government to raise the PTKP amount as it could boost the purchasing power of the people," Apindo General Chairman Haryadi Sukamdani stated after attending a discussion at the office of the chief economic minister in Jakarta on Thursday.
He acknowledged that the hike in the PTKP amount will increase the burden on employers, particularly in terms of health security guarantee, which is twice the PTKP amount.
However, he pointed out that the matter was still within bearable limits since the new government's policy will stimulate consumption.
Juniman, chief economist of PT Maybank Indonesia, was quoted on Thursday by finansial.bisnis.com as saying that the purchasing power stimulus offered by the government was currently needed following the end of the commodity boom era. After all, the average monthly income of the people in the middle and lower classes was only some Rp5 million.
"If household consumption could be maintained at a minimum level of five percent, our GDP would not drop to below five percent," Juniman added.
Earlier, at the start of 2015, the government had raised the PTKP from Rp24.3 million to Rp36 million per annum as an incentive to boost the people's consumption and national economic growth.
However, household consumption, which was the largest contributor to the GDP in 2015, was down by 4.96 percent, the lowest ever recorded since 2010.
Finance Minister Bambang Brodjonegoro expressed optimism that household consumption would increase this year. Moreover, there is a boost from the state expenditure. He said the PTKP must be raised as the workers' highest monthly minimum wage rate at the district level had exceeded Rp3 million.
The minister said that the increase in the PTKP would encourage the flow of investments into the country in line with the increasing demand. The government has forecast a 0.16 percent increase in the GDP.
Bambang Brodjonegoro has proposed an increase in the PTKP from Rp36 million to Rp56 million per annum to be effective beginning this year.
"We are proposing to raise the annual PTKP from Rp36 million to Rp56 million for unmarried workers," the finance minister noted on Wednesday (April 6).
Bambang stated that the PTKP rate for married taxpayers will be adjusted to the number of their children.
The plan to raise the PTKP, which is expected to increase the people's consumption, will be consulted further with Commission XI on financial affairs of the House of Representatives (DPR).
Although the regulation on the plan to raise the PTKP will officially be enacted in June 2016, yet it is expected to be implemented retroactively from January 2016.
Bambang noted that the plan to increase the PTKP from Rp3 million to Rp4.5 million per month can contribute 0.16 percent to the country's overall economic growth.
"The DPR lauds the plan as it would have a positive macro impact and contribute to the growth in consumption and investment, including the gross domestic product (GDP), which we predict at 0.16 percent," the minister explained.
Bambang admitted that the increase in PTKP, aimed at maintaining the people's purchasing power, will slightly reduce the state's tax receipts, particularly income tax receipts. However, the government is also ready to step up efforts to uphold the law.
"We hope that the plan, if implemented, will contribute to the efforts to strengthening the people's purchasing power. State tax receipts will decrease, but it will be compensated with intensive efforts by the directorate general of taxation, including the tax auditing of individual taxpayers," the minister stressed.
After all, the Finance Minister has issued a regulation requiring reports on credit card transaction data. This is part of the government's efforts to track down taxpayers and increase tax revenues.
The Finance Ministry has issued a regulation, which requires 22 banks and credit issuer institutions to report credit card data and transactions to the Directorate General of Taxations.
The matter was regulated vide the Finance Minister's Decree No. 39/PMP.03/2016 on the Type of Data and Information, as well as the Report Procedure of Data and Information which concerns taxation. It came into effect on March 22.
"We need the data for individual taxpayer profiles because we cannot access their bank accounts as the banking law prohibits it. Therefore, we want access to their credit card transactions in order to check their tax profiles," said Bambang in Jakarta recently.
Failing to meet its tax target last year, the government is determined to go all out to collect taxes it has set this year at Rp1,360 trillion. Last year, it failed to meet the target set in the state budget at Rp1,294 trillion. It only collected Rp1,060 trillion, or about 81.9 percent of the target.***3*** (A014/INE)EDITED BY INE
(T.A014/A/BESSR/A. Abdussalam) 08-04-2016 15:34:4 |
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