Strategies For Using Tax And Accounting Policies In Business Uncertainty In The New Era Of Normality

Discussion of the use of tax and accounting policies under uncertainty in the new era of normality. (Photo: By courtesy)

JAKARTA - InCore-Tax and Masters in Accounting from Trisakti University, the Indonesian Accountants Association (IAI), and one of the country's business magazines have just held a Live Seminar which was attended by nearly 500 participants online. This seminar discusses "Strategies for using tax and accounting policies in business uncertainty in the New Normal era".

The Live Seminar which was opened with remarks from Trisaksi University Chancellor, Ali Ghufron Mukti, discussed strategic issues that are needed by all parties, especially business actors and business corporate management.

After that, the Head of the Master of Accountancy Study Program, FEB of Trisakti University, Sekar Mayangsari, emphasized the importance of integrating accounting systems and tax policies in a company, to deal with business uncertainty during the pre-COVID-19 period.

As is well known, the impact of the COVID-19 outbreak on business and the economy has been enormous. Business and economic uncertainty is certainly a very frightening specter for business people.

The impact is clear, hampering business in almost all business sectors, including some who have started to stop operating and go out of business, resulting in a significant reduction in national economic growth.

"With the COVID-19 under control, we have begun to prepare ourselves for the New Normal era. However, business uncertainty still looms over all of us. There must be a strategy to deal with it," said Aris R. Faisal, Tax Practitioner, moderator. Live Seminar which was held on Saturday, June 13th.

Meanwhile, another speaker, Rachmad Gobel, as the business leader of the Panasonic Gobel Group explained his view from the point of view of being an entrepreneur. According to Rachmad Gobel, the Shifting Business Strategy option must be implemented.

"Business players must quickly adapt. Especially, related to changing consumer behavior and business patterns, due to socio-economic constraints," said Rachmad Gobel.

Meanwhile, the Director General of Taxes, Suryo Utomo, in his presentation at the event, explained several important policies and incentives that can be utilized by business actors.

PMK Number 44 / PMK.03 / 2020 concerning Tax Incentives for Taxpayers Affected by the COVID-19 Pandemic, provides several tax incentives.

Among others are:

1) Government-borne PPh Article 21 (DTP) for workers with a gross income of not more than IDR 200 million per year;

2) Final PPh UMKM DTP;

3) Article 22 Import Income Tax Exemption;

4) Reduction of Article 25 Income Tax installments by 30 percent; and accelerated Value Added Tax (VAT) refunds.

In addition, Suryo explained related to PMK Number 28 / PMK.03 / 2020 concerning Providing Facilities for Goods and Services Needed in the Context of Handling the COVID-19 Pandemic.

There are about eight incentives given within a period of 6 months from April 2020 to September 2020. Data shows, up to June 8, 2020, there were 358,966 incentive applications that had been approved.

Suryo also emphasized that the House of Representatives has approved Perpu 1/2020 to become Law No. 2/2020. There are three tax policies that are important for the public to take advantage of.

First, adjustments to the income tax rate for domestic corporate taxpayers and permanent establishments. Second, tax treatment in trading activities through electronic systems (PMSE). And the third is the extension of the time to exercise rights and fulfillment of tax obligations.