Fortuner-Innova also discounted PPnBM, prices can drop up to IDR 150 million!

Jakarta –

The government ensures the expansion of the Sales Tax discount on Luxury Goods (PPnBM) new cars 1,500 – 2,500 cc effective April 2021. What is the range of price reductions Toyota fortuner and Toyota Innova?

Relaxation policy PPnBM Innova and Fortuner, which is intended for cars of 1,500 to 2500 cc, have been decided in a limited coordination meeting chaired by the Coordinating Minister for Economic Affairs Airlangga Hartarto, which was attended by Minister of Industry and Minister of Finance Sri Mulyani Indrawati.

“The tax discount will be given to KBM-R4 (four-wheeled motorized vehicles) with this capacity (1,501-2,500 cc) and 4×2 and 4×4 segments,” said Industry Minister Agus Gumiwang Kartasasmita in a written statement, Thursday (25/3/2021).

There are two schemes PPnBM discount awarded to 4×2 and 4×4 vehicles. The first scheme for 4×2 vehicles is a 50% PPnBM discount, which was previously subject to a 20% PPnBM rate, discounted to 10% for phase I (April-August 2021) and a 25% discount, from 20% to 15% for Phase II ( September-December 2021).

Meanwhile, the next scheme for 4×4 vehicles is a discount of 25%, which was previously subject to PPnBM of 40% to 30% for Phase I (April-August 2021) and a discount of 12.5%, from 40% to 35% for Phase II (September -December 2021). To get this PPnBM discount, 4×2 and 4×4 cars with engines of 1,501-2,500 cc must meet the local purchase requirements of at least 60%.

The Ministry of Industry said that implementing the same program for cars 1,501 cc to 2,500 cc with local purchases above 60% is expected to accelerate the recovery of the automotive sector.

“From the evaluation, it can be seen that the PPnBM relaxation program is effective in increasing purchasing power from the public. This also has a positive impact because it can jumpstart the economy. The recovery in production and sales of the automotive industry will have a multiplier effect for other industrial sectors,” said Minister of Industry Agus Gumiwang. .

In the official statement, Fortuner and Innova were confirmed to have relaxed the policy.

Toyota New Kijang Innova Foto: Dok. TAM–

In Government regulation Number 41 of 2013 concerning taxable luxury goods in the form of motorized vehicles subject to sales tax on luxury goods. Fortuner and Innova are included in a 4×2 driven vehicle with an engine capacity of less than 2,500 cc subject to a 20 percent PPnBM rate. Meanwhile, the Fortuner 4×4 is subject to a 40 percent PPnBM rate.

In the PPnBM relaxation scheme for cars 1,500 cc – 2,500 cc the amount is not 100% (in contrast to the first phase relaxation for 21 cars 1500cc and smaller). Phase I (April-August 2021) PPnBM Fortuner and Innova with a 4×2 drive were subject to a 50% discount so that it fell to 10 percent. Meanwhile 4×4 gets a discount of 25%, which was previously subject to PPnBM 40% to 30% for Phase I.

The following is the estimated calculation if the PPnBM tax is cut by 50 percent and 25 percent (4×4) for phase I, then the result is that Fortuner-Innova can drop in price from tens to hundreds of millions of rupiah. For the record, this price is an estimate. The official price will be announced by the brand holder agent (APM).

Take for example, Fortuner 4×2 2.4 G M/T Diesel currently sold for IDR 512,000,000 (OTR Jakarta), the sale value of motorized vehicles (NJKB) 4×2 2.4 GM / T Diesel is taken from Permendagri No.1 of 2021, which is IDR 382,000,000 and a weight coefficient of 1,050, then the following is the calculation:

= (NJKB x weight coefficient) x 10% PPnBM value

=(Rp 382.000.000 x 1,050) x 10 %

Discount = IDR 40,110,000

Generally, OTR prices include PPnBM. If the 50 percent discounted PPnBM has been deducted, what is the range of price reductions?

The OTR price is reduced by the PPnBM range

= IDR 512,000,000 – IDR 40,110,000
= IDR 471,890,000

Through the same calculation, the discount will be greater for the type Fortuner 4×4 which reduced the PPnBM to 30% for stage I. Fortuner 4×4 2.4 GA / T DSL is currently selling for IDR 637,700,000. get a discount of IDR 150,255,000. This means that the price of this car will drop to IDR 487,445,000.

Then another example, Innova M/T Bensin which is currently being sold for IDR 342,400,000. The sale value of Innova 2.0 M / T Diesel motorized vehicles (NJKB) taken from Permendagri No.1 of 2021 is known to be IDR 382,000,000 and a weight coefficient of 1,050, then the following is the calculation:

= (NJKB x weight coefficient) x 10% PPnBM value

=(Rp 256.000.000 x 1,050) x 10 %

Discount = IDR 26,880,000

What is the amount of the Innova M / T price reduction if the PPnBM discount is imposed?

IDR 342,400,000 – IDR 26,880,000 = 315,520,000

Watch Video “KuTips: Careful Ways to Hunt for New Cars at PPnBM Discounts“
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