Kebijakan pengenaan Pajak Pertambahan Nilai (PPN) sebesar 12% mulai berlaku pada tahun 2025. Namun, kebijakan tersebut hanya dikenakan pada barang dan jasa tertentu saja, salah satunya rumah mewah.
Menteri Keuangan, Sri Mulyani, mengatakan PPN tidak jadi naik untuk barang dan jasa secara umum, tetapi hanya yang sudah dikenakan Pajak Penjualan atas Barang Mewah (PPnBM). Dengan begitu, properti seperti rumah, apartemen, dan kondominium mewah yang harganya di atas Rp 30 miliar bakal dipungut PPN 12%
Sementara itu, barang dan jasa yang selama ini menikmati bebas PPN atau PPN 0 persen masih tetap berlaku. Lalu, seluruh barang dan jasa yang selama ini dikenakan PPN 11% tidak mengalami perubahan PPN selama tidak masuk kategori mewah.
Sri Mulyani menegaskan, pajak dan Anggaran Pendapatan dan Belanja Negara (APBN) adalah instrumen untuk mewujudkan keadilan dan gotong royong, menjaga masyarakat dan perekonomian dan harus berpihak pada rakyat.
Sebelumnya, Presiden Prabowo Subianto juga telah menyatakan kebijakan PPN 12% hanya berlaku untuk barang dan jasa yang masuk kategori mewah. Ia mencontohkan salah satu barang tersebut adalah rumah yang sangat mewah.
Menteri Keuangan, Sri Mulyani, mengatakan PPN tidak jadi naik untuk barang dan jasa secara umum, tetapi hanya yang sudah dikenakan Pajak Penjualan atas Barang Mewah (PPnBM). Dengan begitu, properti seperti rumah, apartemen, dan kondominium mewah yang harganya di atas Rp 30 miliar bakal dipungut PPN 12%
Sementara itu, barang dan jasa yang selama ini menikmati bebas PPN atau PPN 0 persen masih tetap berlaku. Lalu, seluruh barang dan jasa yang selama ini dikenakan PPN 11% tidak mengalami perubahan PPN selama tidak masuk kategori mewah.
Sri Mulyani menegaskan, pajak dan Anggaran Pendapatan dan Belanja Negara (APBN) adalah instrumen untuk mewujudkan keadilan dan gotong royong, menjaga masyarakat dan perekonomian dan harus berpihak pada rakyat.
Sebelumnya, Presiden Prabowo Subianto juga telah menyatakan kebijakan PPN 12% hanya berlaku untuk barang dan jasa yang masuk kategori mewah. Ia mencontohkan salah satu barang tersebut adalah rumah yang sangat mewah.
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TVTranscript
00:00President Prabowo Subianto and Minister of Finance Sri Mulyani Indrawati announced policies related to the increase of added value taxes in the new rules.
00:18The 12% PPN allowance is only allocated for a number of goods that are included in the very luxurious goods category.
00:31Then, the house that is very luxurious, the value is above the middle class.
00:45It means that for goods and services other than luxurious goods, there is no PPN increase.
00:58Thus, President Prabowo Subianto announced the latest policy on the increase of added value taxes to 12%, which began in early 2025.
01:11President Prabowo affirmed that this PPN increase is in compliance with Law No. 7 of 2021 on harmonization of tax regulations.
01:23And in accordance with the agreement between the government and the DPR, the PPN increase was gradually increased from 10% to 11% in April 2022 and then increased to 12% starting January 1, 2025.
01:40On the same occasion, Minister of Finance Sri Mulyani also affirmed that the increase in PPN taxes to 12% only applies to goods currently subject to the PPNBM tax rate, which is in accordance with Law No. 15 of 2023.
02:00The President said that with the consideration of the people's economic conditions and to maintain purchasing power and also to create justice,
02:15the PPN increase from 11% to 12% only applies to goods and luxurious services that have been subject to the PPNBM tax rate.
02:35Well, that's a very small category.
02:41The Ministry of Finance also adopted the Minister of Finance Regulation No. 131 of 2024 as a technical regulation in the implementation of the policy on the PPNBM tax rate of 12% against goods that have been categorized by President Prabowo and Minister of Finance Sri Mulyani.
03:01From Jakarta, IDX News coverage team.
03:04Yes, the team to discuss the following topic is related to reducing the effectiveness of PPN 12% for luxury goods.
03:14We have been connected via Zoom with Mr. Bambang Eka Jaya, Deputy Chairman of the BPP Real Estate Indonesia.
03:22Hello, Mr. Bambang, how are you?
03:24Good morning, Mr. Pras.
03:26Greetings for IDX, Mr. Mulyani.
03:29Yes, happy new year too, sir.
03:31Happy new year, good luck for 2025.
03:34And this is Mr. Ruben Hutabara, Deputy Director of the Center for Indonesia Taxation Analysis.
03:40Hello, Mr. Ruben, how are you?
03:44Happy new year for IDX viewers, for Mr. Bambang too.
03:49Yes, happy new year too.
03:52And we will immediately review this, Mr. Ruben, from Cita's point of view,
03:55related to the impact of the increase in PPN from 10% before,
03:59then 11% since 2022, then if we talk about the impact,
04:05especially for state recipients, is it already quite effective?
04:10We see again the impact of the increase in tariffs from 10% to 11%
04:19since 2021 to 2022.
04:26It was not foreseen.
04:28Suddenly there was an increase of around 11%,
04:34and then there was an increase of 22%.
04:38Outside of the average increase, there was no increase.
04:44That's for sure.
04:46Usually, if our GDP, the buoyancy,
04:53if there is an increase in GDP once,
04:58usually there will be an increase in tax growth twice.
05:04But when there is an increase in tax growth,
05:07this is more than twice.
05:16Okay, Mr. Ruben.
05:17From the business stakeholders, especially Real Estate Indonesia,
05:21Mr. Bambang, how do you see the implementation of PPN
05:24when in 2025 it was decided to increase 12%
05:30but for luxury goods, especially property?
05:32Because above Rp30 billion,
05:35it looks like it will increase PPN by 12%.
05:39Mr. Bambang.
05:41Yes, of course we are grateful that the PPN program
05:46to become 12% is only for those who enter the super-luxury group
05:50above Rp30 billion for property.
05:52This is one thing that, in terms of quantity impact,
05:56is relatively small.
05:58I think it's only around 0.1-0.2% of the existing market.
06:02But don't forget, the impact on taxation,
06:05meaning in terms of income to the government,
06:07is quite significant.
06:09If we look at one unit of property
06:12whose average price is Rp30 billion,
06:15it is equivalent to 150 units of FLPP,
06:19one unit.
06:20It means that PPN is equivalent to selling 150 units.
06:25Then added with 20% of PPN-BM,
06:29automatically it is almost 300 times.
06:35It means the same as selling 300 FLPP houses
06:40by selling only one unit.
06:42Automatically, one unit of a super-luxury house
06:45is equivalent to around Rp450, even more.
06:48So if we consider the average,
06:50one unit of a super-luxury house
06:52is equivalent to selling 500 units of FLPP.
06:56It means that if the market is only 0.1% of 1 million houses,
07:02there are around 1,000 transactions.
07:04With 1,000 transactions, it is equivalent to 500,000 units of FLPP.
07:08So the potential in terms of taxation is big,
07:11the impact on sales is not too significant.
07:16Why? Because it only targets a small group of transactions,
07:20the quantity.
07:21But in terms of quality, it is one potential
07:24and it shows the contribution of property
07:26to the acceptance of large countries.
07:29And I think this is a win-win step.
07:32It means that the government still gets income,
07:34but in terms of sales, it is not too disturbed
07:38by the number above Rp30 billion.
07:42But for a super-luxury market,
07:45if we can say that, Mr. Bambang,
07:48what do you think of the domestic market?
07:51Is this also covered by the development of REI members
07:55or other property associations?
07:59Yes, if we look at our REI members,
08:02most of the developers,
08:04Mr. Natas is a REI member.
08:06They are the ones who sell property,
08:09so their projects are in the super-luxury group.
08:13But indeed, in Jakarta itself,
08:16most of it is for apartments,
08:19such as penthouses,
08:21then also duplex houses
08:24or duplex luxury apartments, duplex condominiums.
08:27Okay.
08:28Whereas if it's a single-land house,
08:30it's practical for the Rp30 billion above,
08:33it's relatively rare.
08:34Why? Because the land in the middle of the city
08:36has just been built.
08:38Automatically, there are no new primary houses.
08:42Okay.
08:43Then on the edge,
08:44now there are exclusive apartments,
08:46such as in the Serpong area and so on.
08:49They also sell at quite expensive prices,
08:53but not up to Rp30 billion,
08:55maybe around Rp10 billion, Rp20 billion,
08:57or Rp25 billion for a duplex,
09:00not a duplex,
09:01but an exclusive complex cluster.
09:03This market is actually helpful
09:06because they are only affected by PPN 12%,
09:09but avoided by PPN-BM which is 20%,
09:13so they are only affected by 12% total.
09:16If not, they will be affected if PPN-BM becomes 32%.
09:20Okay.
09:21So I think this is quite good.
09:23Okay.
09:24Mr. Rupen, with some of the information
09:26that has been conveyed earlier,
09:27that it turns out from just one sector,
09:29there is indeed a sales side
09:32for luxury goods or super luxury goods,
09:35what do you think?
09:36Is it related to PPN?
09:38In the end,
09:39does it have an impact on Indonesia's tax ratio?
09:43Mr. Rupen?
09:46Well, this is before it happened,
09:48before it was finally decided
09:50to reduce 12% or stay at 11%,
09:55actually because it cannot be revoked,
09:59there was a weakening of the people's purchasing power,
10:02especially the middle and lower classes.
10:07Especially, it can also be seen from the fact that
10:11the disposable income is getting lower.
10:14Disposable income is the amount of income
10:16that is provided by the people
10:20until it reaches the lowest point,
10:22around 70% in 2023.
10:26In the end, the government
10:29decided to reduce the disposable income
10:33by 11% and 20% only to the middle and lower classes.
10:40Of course, it cannot be revoked,
10:44the government should base it on the existing facts.
10:48Okay.
10:49But indeed, if you look back at 2021
10:54and 2022, when there was an increase of 10%
10:59to 11%,
11:01there was indeed a significant increase in the tax ratio.
11:06At first, it was below 10%, 9.11%,
11:09to 10.38%.
11:12Although in the end,
11:14after the increase in the rate,
11:16it again experienced a decrease from 10.38%
11:19to 10.31% and 10.12%.
11:25Maybe this is what the government is worried about
11:29seeing the trend of a decrease in the tax ratio.
11:35But also, the effort to increase the tax ratio
11:40should not only be by increasing the rate.
11:44Although increasing the rate is the easiest way
11:47to increase the tax ratio,
11:50but the government should be able to use other strategies
11:56by using more statistics
12:02to prevent it more easily.
12:08This is what the government is worried about.
12:11This is our tax ratio, which again fluctuates
12:14after the increase in the rate in 2021-2022.
12:18That's it.
12:19Okay, later we will see how big the urgency
12:21of the policy to increase the PPN rate to 12%
12:24in 2020.
12:26Remember, this is the end of the investigation,
12:28especially for luxury goods.
12:29We will be back in a moment,
12:30Mr. Bambang, Mr. Ruben, and Mr. Mirza.
12:32We will be back in a moment.
12:37PPN 12%
12:42You are still watching Market Review.
12:44In the next segment, we will be sharing data
12:46related to goods affected by PPN 12%.
12:49As you can see on your TV screen,
12:52first, there are certain motor vehicles,
12:54then goods affected by PPN BM based on PMK,
12:58No. 15, 2023.
13:01Next, goods affected by PPN 12%,
13:03other than any motor vehicle,
13:06first, there are properties worth Rp30 billion or more.
13:12Then, there are air balloons and air planes
13:14without motorists,
13:15firearms,
13:17then air planes,
13:18luxury cruise ships.
13:20That's it.
13:21Next, the first tax rate in Indonesia.
13:24Let's see the presentation.
13:25From 1983, it was still 10%,
13:29then it started to rise in 2022 to 11%,
13:32then in 2025, it became 12%,
13:37especially for luxury goods.
13:39Let's continue the discussion with Mr. Bambang Eka Jaya,
13:43Chairperson of the Indonesian Real Estate Board,
13:45then Mr. Ruben Utabarat, Deputy Director of CITA.
13:48Mr. Ruben, what is the urgency
13:51if we look at the policy to increase PPN to 12% this year
13:55if only for luxury goods or super luxury goods?
14:03The urgency is like what's happening now.
14:06The urgency is only from the point of view
14:08that the government must implement the law.
14:10What is guaranteed is the law of the House of Representatives.
14:13Because if the government does not implement the law,
14:16the government will not violate the constitution.
14:20That's the urgency.
14:22Although there is another urgency,
14:24which is the urgency to increase the tax ratio.
14:27This second urgency is put aside
14:31because there is a strong rejection from the public.
14:34So this first urgency is the basis
14:37to implement the increase in the rate from 11% to 12%.
14:43That's it.
14:45Okay, Mr. Bambang,
14:46with the provision for luxury goods,
14:48in the end, this also becomes something that
14:51can be said to be a fresh wind for the Indonesian property sector
14:54as soon as the development of FFPP housing
14:57or the middle class
14:59and entering the luxury sector is quite safe
15:02because it is not affected by PPN 12%.
15:04Mr. Bambang.
15:06Yes, if we look at the property sector,
15:09it has one incentive that actually helps us,
15:13namely PPN DTP,
15:15PPN that is managed by the government.
15:17But the main problem is
15:20PPN DTP only applies to ready houses.
15:25Okay.
15:26While we know that most of these properties
15:29are Indian houses.
15:31In this case, there are buyers,
15:33especially for landlords.
15:35They make a down payment,
15:38we do the development,
15:39at the time we make a transaction to the PPN.
15:43A ready house, only in the current condition,
15:48only large developers have the ability
15:51and have the capacity to do a ready unit.
15:54Because if it's ready,
15:56the cost of the operation will increase.
15:59That's what we hope,
16:01so that PPN DTP can be fairer.
16:06We hope that with a policy of still 11%,
16:10especially PPN DTP to increase the energy of the property,
16:14it should also be done for Indian houses,
16:18although of course with the conditions
16:20that make this program still safe and secure
16:24and accurate.
16:26Okay.
16:27That's what we hope.
16:29It means that the program of 3 million units per year
16:32can also be successful
16:34if PPN DTP does not increase by 12%.
16:38Yes, because if we say FLPP,
16:41it is a market that has been created from the beginning
16:44to get a lot of facilities,
16:46namely PPN 0 and other facilities.
16:49While above that, it is directly affected by PPN.
16:53But the government helps with PPN DTP
16:56where the transaction below 5 billion
16:59remains at 0%.
17:01Only the determination of the Indian house does not apply,
17:05that's what makes us a little difficult.
17:07Because only a few developers can get those facilities.
17:12Even though, don't forget,
17:14the property is what we always say,
17:16locomotive, economy,
17:18and most of the domestic products,
17:21automatically what we sell will go back to the market
17:25or back to our economy.
17:27Unlike, for example, imported goods.
17:30Okay, that's it.
17:31Indeed, it is one of the positive things
17:33to look forward to 2025
17:35with PPN 12% applied only for luxury goods.
17:39Mr. Ruben, if we look from the point of view of the country's supply,
17:42how?
17:43So maybe there is a high expectation
17:45related to the country's acceptance of PPN 12%
17:47can be fully implemented.
17:48But it turns out,
17:49it's just for luxury goods, Mr. Ruben.
17:53Yes, if you look at the era of PPN in 2025,
17:59the government targets an increase of 17% for PPN.
18:04With a 12% tariff only for luxury goods,
18:08I think this target will be difficult to achieve.
18:12Because at the time of the PPN era in 2025,
18:16it has included a projection that
18:19PPN 12% is applied for all goods and services.
18:24For that, the government must
18:28most likely will review
18:32the APBN revision in 2025.
18:37Because it will be difficult to achieve this 17% increase
18:40with only 12% tariff for luxury goods.
18:45Because the impact is very small
18:47on the acceptance of luxury goods.
18:54Okay, but if Mr. Bambang has mentioned
18:57from the side of PPN 12%,
18:59then there is PPN PM 20%,
19:01this equivalency is quite large
19:03related to the development of the community
19:05for those with low income.
19:07Do you think this is beneficial for the community
19:11if it is effective?
19:13For example, for houses worth Rp30 billion,
19:16the market is quite large.
19:18Then it can be directly correlated
19:20or the PPN revenue fund can be transmitted
19:23for the development of the community.
19:27Mr. Ruben.
19:28Yes, if the increase of 12% tariff for luxury goods,
19:34I see that there must be no decrease in demand
19:38for those goods.
19:40Because it is not elastic in terms of price increase.
19:44The demand for goods is not elastic.
19:48Just by increasing 1%,
19:50it will not affect the demand for those goods.
19:53So whether you like it or not,
19:55there will be an increase in PPN revenue
19:58from the sale of those luxury goods.
20:02But for the total PPN revenue,
20:06the portion itself is not too large.
20:09So just contributing,
20:11it must not be too large.
20:14Only about 5% of the total PPN revenue.
20:20That's it.
20:22Mr. Pambang, how do you see the projection in 2025
20:25for the property sector,
20:27as well as PPN PM,
20:29especially luxury goods,
20:30which will be applied in a more specific way?
20:34Do you think this will make the property sector more prominent?
20:40Yes, if we look at it,
20:42we have given an illustration
20:45that by selling 1,000 units of super-luxury houses,
20:49it is equivalent to selling 500,000 units of FLPP.
20:54We hope that the contribution can be increased.
20:58One way is by socializing foreign ownership.
21:02It means that at the moment,
21:03foreigners have not moved.
21:05Foreigners have not bought property en masse.
21:08In fact, if we compare it to other major cities in Indonesia,
21:11the property in Indonesia
21:13is relatively cheap.
21:17And don't forget,
21:18property has two functions,
21:20in addition to shelter or housing.
21:22It is part of the investment.
21:24So if we can push this into an opportunity,
21:29this is an opportunity to attract foreign investors
21:32to buy property in Indonesia.
21:34Automatically, it will contribute
21:36quite a large amount of funds for development.
21:39As for domestic property,
21:41what we expect is that
21:43PPN and DTP can operate more evenly.
21:47Secondly, we see that
21:50one of the sectors that pays the most is property.
21:55In addition to PPN, there is PPN-BM,
21:58then there is also BP-HTB,
22:01which is quite large, 5%.
22:03So if PPN can be subdued
22:07or given incentives for housing,
22:11then with the contribution of BP-HTB
22:14from 5% to 0%,
22:16then the price of property can drop to 17%.
22:19So it is expected that the market will be able to move
22:22and they have the ability to do more.
22:24And lastly, what we expect is that
22:27for Gen Z or millennials,
22:29those who currently need a fairly massive house,
22:33can be helped, for example,
22:35even if PPN for rental houses cannot be avoided,
22:40it can also be PPN for houses,
22:42for example, below 2 billion,
22:44the PPN is only half of the PPN that is valid, for example.
22:47So the purchasing power is still there,
22:49our current economic ability
22:52may be a bit down,
22:55if it has been stated earlier,
22:57that this year's inflation
22:59can be said to be the lowest for more than 80 years.
23:03From 1958 until now,
23:05our inflation is now only 1.57% per year.
23:08So this is also a warning
23:11that purchasing power is indeed weak,
23:13there needs to be more incentives.
23:16Yes, that's it.
23:17It seems to be a tricky thing
23:19that needs to be done by the government
23:21in the face of 2025,
23:23there needs to be policies, incentives,
23:25incentives that are more targeted for the business world.
23:29Moreover, the PPN 12%
23:31can be said to be correct
23:33if it is only allocated for luxury goods.
23:36How do we increase the market share
23:38for luxury and super-luxury goods,
23:40so that it can also contribute
23:42to other sectors that can also be helped.
23:45Mr. Bambang, Mr. Ruben, thank you very much
23:47for sharing the analysis
23:49that has been given to the audience today.
23:51Congratulations on your activity again.
23:53Stay healthy.
23:58All right, audience,
23:59I've been with you for an hour in the market review
24:01and keep sharing your information
24:03only on IDX channel,
24:04your trustworthy and comprehensive investment reference.
24:07Because the future must be ahead,
24:10I am an stock investor.
24:12I am Prasetyo Wibowo
24:14as well as all the staff on duty.
24:16I take my leave.
24:18See you.