Garuda - Garba Rujukan Digital

Cyber Security Applied For Financial Sector In Indonesia Machfud Sidik
Jurnal Pajak dan Bisnis Vol 1 No 1 (2020): Jurnal Pajak dan Bisnis
Publisher : LPPM-STPI

This paper examines the supervisory issues underlying the potential developments and risks in cyber security applied to the financial industry. Cyber ??attacks on financial institutions and financial market infrastructure are becoming more widespread and more sophisticated. Cybercrime is a growing threat in the virtual world as individuals and financial sector organizations rely more and more on the internet at an increasing pace. Awareness of cybercrime risks has increased, companies are actively managing cyber risks and investing in cyber security, and to some extent transferring and pooling their risks through cyber liability insurance policies. International experience shows that the financial sector can develop an effective electronic transaction security framework through the latest methods to maintain public trust and financial stability by implementing policies: (i) a clear legal regime; (ii) proportionate action to prevent financial integrity risks; (iii) contingency plans for operational disruptions; (iv) risk control and access criteria in cyber systems; and (v) cross-disciplinary and holistic cybersecurity research is needed to address unexpected new challenges. Such steps are very important for financial institutions where the diffusion and collaboration while maintaining the confidentiality of the data held by each organization is a wider demand.

A STUDY OF POSSIBLE REVENUE SHARING ON VALUE ADDED TAX Machfud Sidik
Jurnal Pajak dan Bisnis Vol 1 No 2 (2020): Jurnal Pajak dan Bisnis
Publisher : LPPM-STPI

This study focuses on the possible application of Value Added Tax (PPN) revenue sharing, including its implications for the financial relationship between the Central and Regional Governments and the possible impact on the DAU allocation. This study also provides strategic advice on approaches to implementing potential VAT reforms and the types of consumption taxes that fall under the authority of local governments. The success of developing fiscal relations between levels of government depends on the right policy environment, especially on effective policies regarding the collection of sources of state/regional revenue. This study provides a comprehensive understanding of the nature of the fiscal relationship between levels of government in terms of efforts to increase tax revenues, both by the Central Government and Regional Governments and explores the sharing of VAT revenues to increase additional sources of funds for the Provincial, Regency and City Governments. VAT revenue sharing is very likely to reduce the vertical imbalance between the Central Government and the Provincial, Regency and City Governments, but on the other hand, this has the potential to increase the horizontal disparity between the Provincial, Regency and City Governments. Thus, PPN reform including profit sharing, in any form requires policy improvement, including in the formulation of DAU reformulation. The implementation of VAT revenue sharing will also increase additional sources of funds for Provincial, Regency and City Governments, including by encouraging collaboration between Central and Regional tax officials, as well as increasing transparency and accountability.

A Land Value Capture: Taxation and Value for Money Perspectives Machfud Sidik
Jurnal Pajak dan Bisnis Vol 2 No 1 (2021): Jurnal Pajak dan Bisnis
Publisher : LPPM-STPI

Providing basic services in urban areas effectively is one of the most significant challenges facing city governments, as the ability to provide urban services largely determines the competitiveness, poverty level and quality of life of urban residents. Metropolitan cities and big cities in Indonesia face various needs for urban infrastructure services, including a mass rapid transportation system to serve public transportation in the downtown area and hinterland areas. Urban local governments face the dilemma of limited funding in servicing the increasing demand for urban services, mainly due to the flow of urbanization and increasing urban services, including as a center for financial and digital transactions. Land Value Capture (LVC) is an alternative solution that must be developed by city governments in Indonesia, especially in the perspective of taxation and other forms of return on investment costs. Institutional strengthening, the collaboration between agencies, legal certainty, and robust regulations are the main prerequisites for implementing LVC in Indonesia

Transfer Pricing and Taxation Dispute Resolution Machfud Sidik
Jurnal Pajak dan Bisnis Vol 2 No 2 (2021): Jurnal Pajak dan Bisnis
Publisher : LPPM-STPI

The role of MNEs in world trade is increasing drastically from time to time. Tax disputes, especially regarding transfer pricing between taxes and MNEs, have become an international issue. The solution to this dispute requires a balance of interests between MNEs and taxes. The growth of MNEs presents a complex taxation problem for both the tax authorities and the MNEs themselves as taxation varies between countries. These problems arise mainly from the practical difficulties, both for MNEs and taxes, in determining the income and expenses of companies or forms of business that are part of the MNE group that must be taken into account in the activities of each country, especially the activities of the integrated MNE group. Transfer pricing, for tax purposes, is the price of intercompany transactions that occur between businesses. The transfer pricing process determines the amount of income earned by each party from the transaction. Taxpayers and taxes relate exclusively to transactions called controlled transactions, and have no direct impact on independent party transactions, which are called uncontrolled transactions. Transactions, in this context, are defined broadly, and include sales, licenses, leasing, services and interest. Tax authorities need attention for greater attention to global trade instruments by MNE groups. Indonesia has formulated provisions related to transfer pricing since 1984 when the first tax reform was introduced. However, the technical guidelines to meet the principles that will be implemented by the new tax auditors are in 2010 and are implemented effectively in 2011 and the following period through Law No. 11/2020 and the 2021 KUP Bill. There are various challenges in implementing the existing transfer pricing provisions. currently, especially related to payments for intangible uses, payment of interest on debt to equity, payments for intragroup services which are basically regulated in the technical provisions of transfer pricing and inspections related to selling prices and buying prices for intra-group trading are basically regulated in domestic regulations. Indonesia. In addition, in the transfer pricing test, there are considerable disputes which are technical issues such as (i) the selection of transfer pricing testing methods (ii) the selection of comparative data (iii) the audit process is not appropriate. Along with the development of cross-border financial institutions, developments regarding transfer pricing and BEPS are expected to increase. It is therefore very important that Indonesian tax oversight pay attention to skilled personnel to cope with the increase brought about by global instruments by MNE groups.

Digital Services Tax: Challenge of International Cooperation For Harmonization Machfud Sidik
Jurnal Pajak dan Bisnis Vol 3 No 1 (2022): Journal of Tax & Business
Publisher : LPPM-STPI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55336/jpb.v3i1.46

The spread of the digital economy brings about many benefits, for example in terms of growth, employment and well-being more generally. These challenges extend well beyond domestic and international tax policy and touch upon areas such as international privacy law and data protection, as well as accounting and regulation, a strategic tax policy perspective, the uptake of digital technologies may potentially constrain the options available to policymakers in relation to the overall tax mix. Technological innovation and the growth of the Internet have profoundly affected trade relations, production processes and products, and the organization of companies. The digital economy is characterized by several key elements, such as the massive expansion of intangible assets; intensive use of data (especially personal data), and widespread adoption of multi-faceted business models that exploit the value externalities of free assets. As the digital economy brings us into new territory, is fair taxation fiction or reality? Although overcoming the numerous ch a l l en g es will be a difficult task for policy makers , fair taxation of the digital e c o n o m y is a reality. A prerequisite to making real sustainable change is enthusiastic country commitment and international cooperation. Asia and the Pacific region need to pull together and push forward the necessary reforms, innovate tax structures and administration, and continue to learn from each other’s experiences. Other key enablers include a coherent strategy and strong evidence-based communication and knowledge.

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