Embracing The New Taxation Policy Developments in the Face of Post-Pandemic Era
Taxation is the most significant contributor to Indonesia's state budget. In analyzing taxation, there will always be challenges and opportunities amid global economic and political conditions that are highly dynamic. Therefore, various adjustments related to taxation policy must continue to be made, ultimately aiming to produce a more effective and fair taxation system.
Over the past two years, the world has been facing the COVID-19 pandemic, which has resulted in an unprecedented challenge to the business sectors that causes instability and the inability for businesses to perform operational activities as before. In response to the COVID-19 pandemic, Indonesia's economic condition is also weakened with the decrease in national supply and demand quantities. Fortunately, the conditions are gradually improving. The cases of COVID-19 have decreased significantly, enabling businesses to operate as usual and strengthening national economic conditions.
In the middle of a promising future, the Indonesian Government is facing many new implementations of taxation policies. Through domestic policy, the Directorate of General Taxes (DGT) has issued the Harmonization of Tax Regulation Laws (HPP) under Law Number 7 of 2021. This law, which includes six principal regulations, is a new milestone in national tax reform to support the efforts to achieve the target of Indonesia becoming a developed country in 2045. The DGT still has to continue the implementation of the HPP law, which is adjusted to Indonesia's economic condition. Through the international taxation policy, the G20 Presidency hosted by the Indonesian Government will become a forum for formulating various new taxation policies. With the grand theme “Recover Together, Recover Stronger” and its digital economy transformation agenda, many topics regarding taxation issues regarding global tax consensus initiated by Organization for Economic Co-operation and Development (OECD) will be thoroughly discussed in this forum. Undoubtedly, it will open up opportunities for new tax policies to be implemented globally.
With all of these new taxation changes and future updates, several issues and disputes could occur. Adjustments are crucially needed by the Indonesian Government to effectively take advantage of existing opportunities and achieve economic recovery objectives. Therefore, The 12th Tax Intercollegiate Forum initiates the theme: "Embracing the New Taxation Policy Developments in the Face of Post-Pandemic Era”. The 12th Tax Intercollegiate Forum will thoroughly discuss and be the medium for many stakeholders in formulating and implementing these changes and updates. In the end, this event is expected to contribute to educating and giving value to each stakeholder through edifying tax competition and a fruitful webinar.