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All Journal Jurnal Manajemen Terapan dan Keuangan Jurnal Akuntansi STIE Muhammadiyah Palopo Jurnal Riset Akuntansi dan Keuangan Owner : Riset dan Jurnal Akuntansi Jurnal Ar-Ribh Formosa Journal of Science and Technology (FJST) Prosiding Seminar Nasional Teknik Elektro, Sistem Informasi, dan Teknik Informatika (SNESTIK) Jurnal Penelitian IPTEKS
Insirat, Mutahira Nur
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Religion Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Social Sciences

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Navigating the 12% VAT Increase in Indonesia: Challenges and Opportunities for Equity Investors in the Context of Islamic Finance Insirat, Mutahira Nur; Syahfir, Hasri Ainun; Darmawati, Darmawati; Rasyid, Syarifuddin
Jurnal Ar-Ribh Vol. 8 No. 2 (2025): October 2025
Publisher : Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/bdb97z47

Abstract

This study examines the economic and investment implications of Indonesia’s Value Added Tax (VAT) increase from 11% to 12%, effective January 1, 2025, within the framework of Islamic finance. The policy, part of a broader fiscal reform, aims to enhance state revenue, promote sustainable development, and strengthen fiscal stability, while applying the higher rate only to luxury goods and services. Using an exploratory qualitative approach, this research analyzes both challenges and opportunities arising for equity investors in the Indonesian capital market. Findings reveal that the VAT increase may reduce consumer purchasing power, particularly affecting consumption-driven sectors such as consumer goods and retail, thereby increasing market volatility and reducing short-term profitability. However, sectors less affected by the policy such as healthcare, technology, and halal finance present diversification opportunities aligned with Shariah principles. From an Islamic finance perspective, taxation is permissible when implemented with fairness (‘adl) and aimed at public welfare (maslahah), ensuring that vulnerable groups remain protected. The study highlights that investors integrating Shariah ethics, risk management, and sustainability considerations can navigate fiscal adjustments more effectively. Overall, the VAT increase, while posing short-term market challenges, may lead to long-term fiscal resilience and responsible investment opportunities under a just and transparent Islamic economic framework.
Value Conflict: Government Interests vs. User Satisfaction in E-Government Insirat, Mutahira Nur; Haliah, Haliah; Nirwana, Nirwana
Formosa Journal of Science and Technology Vol. 3 No. 10 (2024): October 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjst.v3i10.11830

Abstract

This research explores the value conflict between government interests and user satisfaction in the context of e-government. Using a Systematic Literature Review (SLR) approach, this research analyzes how user-oriented approaches can clash with established public values. The findings show that legal accountability is often prioritized by the government, overriding users' needs for more efficient and accessible services. In addition, the government's inability to accommodate inclusive user engagement, especially in digitally-disenfranchised societies, adds to the complexity of the problem. The conclusion of this study emphasizes the importance of a more collaborative approach in the design of government digital services that are not only efficient, but also able to increase inclusivity and public trust. For future research, it is recommended to focus on reducing the digital divide, improving accessibility, and exploring new technologies such as artificial intelligence and blockchain to support accountability and user satisfaction simultaneously.
Co-Authors Abdul Khaliq Afrianto, Afrianto Amiruddin Amiruddin Aulia Aulia Darmawati Darmawati Darwis Said, Darwis Febriana , Ayu Haliah, Haliah Indrayani, Hesti Indriana Indriana, Indriana Ismawati Ismawati Lestari, Belinda Lutfiya, Muhajira Nurul Marsuni, Nur Sandi Masnia Masnia, Masnia Mediaty Mubarak, Ahmad Sainuri Muchriana Muchran Muh Ramli Muhammad Yusuf Nirwana, Nirwana Pasigai, Moh Aris Pertiwi, Hardianti Puspitasari, Ningsih Putra , Dian Pramana Rasyid, Syarifuddin Samsul Rizal Sunarti SURYA DHARMA Syahfir, Hasri Ainun Syamsuddin Syamsuddin Usman, Asri Wahyuni , Hera