VAT Increase, Restaurant Entrepreneurs Worried
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The Ministry of Finance has released a number of goods that will be subject to 12% VAT. Some of them are premium food ingredients such as salmon to king crab. Head of the PHRI Restaurant Division, Emil Arifin, said that the impact of the VAT increase was to reduce competitiveness and burden purchasing power from Covid to the presidential election. With the 12% VAT, it will actually hit the restaurant industry because there is an increase in operational costs to 7%-8%. The increase in VAT on several goods will also make it difficult to implement. According to Emil, what happens in the field is that it will be equalized. Therefore, the increase in VAT to 12% needs to be reviewed. For more, watch the dialogue between Safrina Nasution and Head of the PHRI Restaurant Division, Emil Arifin and General Chairperson of APKRINDO, Ferry Setiawan, on the CNBC Indonesia Closing Bell Program, Monday (12/23/2024). Continue to follow business economic news and in-depth analysis only at https://www.cnbcindonesia.com/. CNBC Indonesia is affiliated with CNBC International and operates under the Transmedia group and is affiliated with Trans TV, Trans7, Detikcom, Transvision, CNN Indonesia and CNN Indonesia.com. CNBC Indonesia can be enjoyed through Transvision channel 805 or streaming via the CNBC Indonesia application which can be downloaded on Playstore or iOS. Follow us on social: Twitter: / cnbcindonesia Facebook Page: / cnbcindonesia Instagram: / cnbcindonesia / cuap_cuan Tiktok: https://bit.ly/38bytjx Spotify: https://spoti.fi/2BR7KkT
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