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The implementation of fiscal policy reform in Indonesia

 

1.    

1.   Speak about fiscal policy reform means discuss in its wider spectrum to be used. This fiscal policy refers to all the methods used by a government to influence the economy through tax rates and government expenditures. In practice, the direction of Indonesia's fiscal policy in 2022 is focused on efforts to recover the economy and implement structural reforms. Moreover, the current post-economic economic conditions are starting to improve and progress is visible. The real economy sector is starting to reach the target little by little so that this has made business people run their business and their tax increases will increase. The following are three fiscal reforms implemented by the government, namely:

 

First, reform of the taxation sector. The government seeks to optimize state revenues, including taxation. Efforts to optimize it are with revenues that will be pursued through potential exploration and expansion of the tax base, increasing taxpayer compliance, as well as optimizing asset management and service innovation. The policy reform is also intended to make the tax system healthy and fair in the future. Healthy means effective as a policy instrument, optimal as a source of income, adaptive to changes in the structure and dynamics of the economy and fair means providing certainty of tax treatment, encouraging voluntary compliance by taxpayers, and creating a balance of tax burdens between income groups. and between sectors.

 

The second is about how to reform the budget. In this case, the government should try to make improvements through better spending that is carried out through controlling expenditure to be more efficient, productive, and produce a strong multiplier effect on the economy as well as being effective in protecting and improving welfare.

In addition, budget utilization will be focused on supporting priority programs, promoting the efficiency of basic needs, and maintaining results-based budget execution. Subsidy spending was changed from commodity-based to human-based to make it more effective and targeted.

 

Third, financing. Various measures are focused on encouraging flexible, prudent and innovative financing.

 

2.       Fiscal policy problem in the survey is about broadly over the next few years between 2010 and 2021, Indonesia has made progress in opening up public access to budget reports Public availability of budget documents in Indonesia, although the figure is 70 out of 100 on transparency This still has to be progressive and simultaneous every year. Based on the survey data, in 2010, 2012 and 2015, transparency data shows that in the first and final year components as well as pre-budget statements, it shows that the government does not open access to the availability of these budget documents.

 

 

3.       Fiscal policy reform priorities that can be carried out are:

 

     The government is trying to make improvements through controlling and improving the budget transparency through an open access and availability for public to display the government's balance sheet as part of the Executive's Budget Proposal and Enacted Budget showing information on the government's financial and non-financial assets for the budget year.

 

Government should Increase the information in the Executive's Budget Proposal and Enacted Budget related to fiscal risks, such as quasi-fiscal activities of public corporations, contingent liabilities, arrears, and analysis of the long-term sustainability of the government's finances.

 

Government should include information on the financial execution of budget programs in the In-Year Reports and Year-End Report. Report on the differences between the estimates and actual outcomes for performance indicators, such as non-financial data results, in the Year-End Report.

 


 

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