Sri Mulyani: Only 24% of Covid-19 Tax Incentives has been Used
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23 October 2020 13:50 WIB
TEMPO.CO, Jakarta - The government has allocated a Covid-19 tax incentive fund of Rp120.6 trillion. Finance Minister Sri Mulyani said that as of October, the realization was less than Rp30 trillion, or just 24.6 percent of the allocated budget.
"We will continue to fight to convey to all taxpayers that the government is there for them," the minister said at the Spectaxcular event on Friday, October 23.
The tax incentives, said Sri Mulyani, had been given in the form of credit restructuring in banks. There is also the working capital loan assistance and interest subsidies for taxpayers who run small and medium enterprises.
The Covid-19 tax incentive fund of Rp 120.6 trillion is divided into several parts, including Rp39.66 trillion for tax exemption for PPh 21 employees. "Rp2.18 trillion of that has been actualized," Sri said.
There is also the exemption of the PPh 22 import tax with an allocation of Rp.14.75 trillion, up to 50% cut of PPh 25 installments with an allocation of Rp14.4 trillion, the reduction of corporate income tax rate with an allocation of Rp20 trillion, and the preliminary return of VAT with an allocation of Rp5.8 trillion.
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