Jakarta –
The government decided to increase the rate of Value Added Tax (PPN) to 11% from the original 10% starting April 1, 2022. From the tax regulation, the concern is the VAT on gold bullion.
Director General of Taxes at the Ministry of Finance, Suryo Utomo, said that gold bullion would not be subject to VAT.
“Gold bullion is one of the ones that will be given later treatment, exempted from the imposition of VAT,” explained Suryo in the talk show Interpreting the New VAT Policy which was held virtual, Tuesday (5/4/2022).
Suryo explained that gold will be included in goods that receive VAT facilities, but currently they are still waiting for the technical regulations.
“Although maybe there is no PP (Government Regulation) yet, but in context that is what we will exclude or give incentives not to be subject to VAT at this time or VAT exempt in simple language,” he added.
Furthermore, he emphasized, there are several types of goods and services that are not subject to charges PPN other than gold, namely staple goods such as rice, corn, milk, soybeans, salt, meat, eggs, fruits and vegetables.
“Then health services, education services and social services. Vaccines, holy books, clean water, electricity are our daily activities, which are below 6,600 we still don’t charge (VAT),” said Suryo.
Previously, the Twitter account @pretcieux complained about the fact that when buying gold, which was used as an investment instrument, it was still worn PPN 11%.
“Gold is an investment instrument? Think again. Once you buy gold in Indonesia, you are already subject to a precious metal tax (0.9%), 11% VAT. While the CAGR of gold for the last 10 years is 1.97%. Buying gold makes you richer ?,” he wrote.
As of today, at 14.00 WIB, his tweet has been re-tweeted 2,368 times, commented on by 729 accounts, and liked 7,944 times.
Watch Video: April 1 VAT Becomes 11 Percent, Samsung Confirms Its Products Will Not Increase Prices
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