JAKARTA - Secretary of the Coordinating Ministry for the Economy Susiwijono Moegiarso conveyed that further technical issues for the list of luxury goods that will be subject to an increase in Value Added Tax (VAT) to 12 percent by 2025 will be regulated by the Ministry of Finance.
"Technically, the Minister of Finance will arrange (the list of luxury goods subject to VAT 12 percent)," he told the media crew, Friday, December 6.
In addition, Susi explained that the implementation of the policy exemption has been regulated in Government Regulation (PP) No. 49 of 2022 concerning Exceptions for the Implementation of Value Added Tax (VAT) for certain types of goods and services.
"Friends in the tax, they have PP for the implementation of VAT, which PP 49 is excluded, right? Those are technical friends later," he said.
Furthermore, Susi explained that so far the exemption from VAT has been regulated through PP such as basic goods and certain excluded services.
"So far, the exception is that there is a PP, just read PP 49 2022, it's basic goods, certain service items are used to being excluded," he added.
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Susi emphasized that this policy is not only related to fiscal incentives, but also as part of efforts to maintain economic growth.
"If the physical incentives are not, it has something to do with that, but not only responding to that but more for growth, we will maintain the growth of the fourth quarter, preparation for growth in the first quarter of next year. The sector sector has indeed contributed greatly to our growth," he concluded.
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