Suara.com – The government is preparing an incentive policy to reduce the Sales Tax rate on luxury goods (PPnBM) or tax discounts for motorized vehicles ≤ 1,500 cc for the sedan and 4×2 category.
This decision was taken after coordination between ministries and decided in a limited cabinet meeting.
This motor vehicle tax discount is an integral part of the Covid-19 Handling Program and the National Economic Recovery.
This segment was chosen because it is a segment that is of interest to the middle class and has local purchases of more than 70%. The tax discount is carried out in stages until December 2021 in order to have an optimal impact.
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A tax discount of 100% of the normal rate will be given in the first three months, 50% of the normal rate in the following three months, and 25% of the normal rate in the third phase for four months. The amount of tax discount will be evaluated for effectiveness every three months.
This tax discount policy will use PPnBM DTP (borne by the government) through the issuance of a Minister of Finance Regulation (PMK) and is targeted to come into effect in March 2021.
The provision of tax discounts was also supported by Bank Indonesia and the Financial Services Authority policies to encourage motor vehicle purchase credit, namely through regulations regarding 0% down payment (DP) and a reduction in RWA Credit (Risk Weighted Assets).
It is hoped that the combination of these policies will also be positively welcomed by producers and selling dealers to provide attractive sales schemes so that the potential impact is more optimal.
This policy is also expected to be able to bring back sales of passenger cars, which began to rise since July 2020. This tax discount also has the potential to increase the utility of automotive production capacity, increase the enthusiasm for middle-class household consumption (RT) and maintain the momentum of economic growth recovery that has become increasingly evident .
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On the consumer side, Eid with its homecoming tradition is expected to also increase motor vehicle purchases, which of course can be done if the Covid-19 pandemic has sloped.
Motor vehicle tax discounts are given to accelerate the pace of economic recovery. The release of the Q4-2020 economic growth on February 5, 2021 confirmed the increasingly real trend of economic recovery.
Economic growth continues to improve, from -5.32% in Q2-2020 to -3.49% in Q3-2020 and continues to increase to -2.19% in Q4-2020. Increased economic growth was supported by state spending stimuli from various programs to handle Covid-19 and national economic recovery.
Household consumption has also gradually improved. From the production side, this incentive will strengthen the economic recovery in domestic strategic sectors.
Source: Suara.com – Kumpulan Berita Bisnis Hari Ini Yang Terbaru by www.suara.com.
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