VAT Increases 1 Percent, Conglomerate Anthony Salim's Indomie Products Contribute Additional Taxes Of IDR 725 Billion To The State Treasury

Illustration (Photo: Doc. INDF)

JAKARTA - The government has officially increased the value added tax (VAT) rate to 11 percent from the previous 10 percent starting April 1, 2022 ago. It is believed that the 1 percent margin will raise state revenue so that it is expected to meet the tax revenue target of Rp1,265 trillion this year.

One of the companies with the highest VAT payments is PT Indofood Sukses Makmur Tbk. The business entity with the issuer code INDF is an instant noodle producer Indomie which is the market leader in the country.

In fact, special staff of the Minister of Finance Yustinus Prastowo gave special attention to the product made by conglomerate Anthony Salim.

“Instant noodle fans, thank you for contributing to the country by paying VAT. Your VAT contribution will increase by around Rp. 25 per pack," he said via his Twitter account @prastow, quoted April 1.

Citing the INDF 2020 financial report, it was stated that the number of instant noodles produced was 29 billion packs. If you use Yustinus's assumptions above, you will get an additional VAT of IDR 725 billion to the state treasury from a 1 percent increase in VAT.

"Gotong royong for the common good. Congratulations to all champions!” Justin said.

Meanwhile, in terms of performance, INDF in 2021 recorded a net profit of Rp. 7.64 trillion, an increase of 18 percent from the previous year's gain of Rp. 6.46 trillion.

The company's moncer book cannot be separated from the increase in consolidated net sales which reached Rp. 99.35 trillion or grew 22 percent from Rp. 81.73 trillion in 2020.