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INDONESIA
Summa : Journal of Accounting and Tax
Published by PT Penerbit Ilmiah Indonesia
ISSN : -     EISSN : 30314216     DOI : https://doi.org/10.61978/summa
Core Subject : Economy,
Economics, Econometrics & Finance
Summa: Journal of Accounting and Tax with ISSN Number 3031-4216 (Online) published by Indonesian Scientific Publication, is a leading peer-reviewed, open-access scientific journal dedicated to publishing high-quality research, analytical papers, and case studies in the fields of accounting and taxation. Since its establishment, Summa has been committed to advancing both theoretical understanding and practical applications of accounting and taxation in the ever-evolving business landscape.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Akuntansi
Articles 47 Documents
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PT Seabank Indonesia’s Financial Performance: Pre- and Post-Digital Banking Acquisition Jessyca; Munaf, Tommy; Sambodo, Bambang; Saputra, Novi Chandra; Zulaika, Nurfitri
Summa : Journal of Accounting and Tax Vol. 3 No. 4 (2025): October 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v3i4.615

Abstract

This research investigates the financial performance of PT Seabank Indonesia prior to and following its acquisition and transformation into a digital bank. The evaluation is based on several key financial indicators, including the Loan to Deposit Ratio, Capital Adequacy Ratio, Return on Assets, and the ratio of Operating Expenses to Operating Income. Using a quantitative method, this research analyzes secondary data drawn from quarterly financial reports between 2019 and 2022. Statistical tests, including the Paired Sample T-Test and Wilcoxon Signed Rank Test using SPSS version 29, were employed to assess differences before and after the acquisition. The findings reveal that only the LDR ratio showed a significant change post-acquisition, while CAR, ROA, and BOPO did not exhibit statistically significant differences. These results suggest that while digital transformation may influence certain aspects of bank performance, its overall financial impact may vary across different indicators.
Audit Quality and the Effectiveness of Accrual Reform: A Panel Study of Budget Composition Variance in Indonesia Lestari, Putri Ayu; Fadilah, Resmi Afifah; Wahyuningsih
Summa : Journal of Accounting and Tax Vol. 2 No. 1 (2024): January 2024
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v2i1.871

Abstract

This study evaluates the impact of Indonesia’s 2015 accrual based accounting reform on budget composition credibility in subnational governments, utilizing the PI 2 Composition Variance indicator from the PEFA framework. The objective is to determine whether the adoption of accrual accounting improved alignment between planned and actual expenditures across economic classifications. The research applies a panel data methodology covering 514 Indonesian provinces and districts from 2011 to 2021. Using fixed effects regression models, the study incorporates a reform dummy, audit quality (measured by unqualified audit opinions or WTP), and various fiscal controls including PAD per capita, TKDD, personnel spending share, and PDRB. Robustness checks include alternative specifications and treatment of outliers and administrative splits. The results indicate that accrual reform is associated with a statistically significant reduction in budget composition variance. Furthermore, the reform’s impact is stronger in jurisdictions that received WTP audit opinions, underscoring the moderating role of audit quality. The findings suggest that institutional maturity, particularly audit capacity, amplifies the benefits of financial reporting reforms. In conclusion, accrual reform can improve fiscal discipline through enhanced compositional execution, especially when reinforced by high quality auditing institutions. These insights support policy efforts to integrate technical reforms with institutional strengthening. Future research should examine how these improvements influence service delivery and broader governance outcomes.
Third Party ESG Assurance and Capital Costs: Evidence from Indonesia’s Emerging Market Mindrawati, Deny Nitalia; Romdhon, Mochamad
Summa : Journal of Accounting and Tax Vol. 2 No. 1 (2024): January 2024
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v2i1.872

Abstract

This study investigates the causal impact of independent ESG assurance on the cost of debt among Indonesian publicly listed firms. With sustainability reporting gaining prominence, the role of third party verification in enhancing credibility and reducing perceived risk remains underexplored, particularly in emerging markets. The objective is to assess whether assurance on ESG disclosures translates into tangible financial benefits. Using a Difference in Differences (DiD) approach, the study analyzes a panel of 253 firm year observations from IDX listed companies between 2020 and 2022. ESG disclosure scores were measured through GRI based content analysis, and assurance was coded as a binary treatment. The primary dependent variable is the cost of debt, calculated as interest expense divided by long term debt. Control variables include firm size, ROA, board independence, and industry classification. Results reveal that ESG assurance adoption significantly reduces the cost of debt, particularly for firms in non heavy polluting industries and those with stronger governance structures. The DiD coefficient indicates a meaningful and statistically significant decline post assurance, suggesting that verified sustainability reports enhance investor and creditor trust. However, assurance does not affect short term profitability, implying its role as a signaling rather than a performance enhancing mechanism. These findings contribute to the literature by offering empirical DiD based evidence on the financial benefits of ESG assurance in emerging markets. The study underscores the strategic importance of third party verification in capital cost management, emphasizing implications for corporate decision making and regulatory policy.
Mitigating Budget Slack in Remote Work Environments: Evidence from Indonesian Shared Service Centers Setyorini, Noni; Lestari, Dwirani Fauzi
Summa : Journal of Accounting and Tax Vol. 2 No. 4 (2024): October 2024
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v2i4.873

Abstract

Remote work, accelerated by the COVID-19 pandemic, has transformed operational models across Indonesian Shared Service Centers (SSCs), offering flexibility but also creating challenges in maintaining budgetary discipline. This study examines how remote work and incentive structures shape the formation of budget slack, with particular attention to the moderating role of trust and organizational integration. Employing a quasi-experimental Difference-in-Differences (DiD) design, data were drawn from surveys, operational logs, and HR records across SSC units in Indonesia, with budget slack measured using validated Likert-scale instruments. The DiD estimations also included interaction terms for trust and incentives to test moderating effects. The findings indicate that remote work tends to increase budget slack due to reduced managerial oversight, yet performance-based incentives such as KPI-linked bonuses and ESOPs significantly mitigate this effect, especially in environments characterized by high managerial trust. The study underscores the need for holistic control frameworks combining digital tools, human centered leadership, and policy coordination. Effective SSC governance in hybrid environments requires incentive alignment, trust building, and cross functional collaboration.
Institutionalizing Internal Audit in Indonesian Startups: Regulatory Alignment and Fraud Prevention Strategies Prayoga, Cepi Juniar; Sukristanta
Summa : Journal of Accounting and Tax Vol. 3 No. 1 (2025): January 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v3i1.876

Abstract

This study investigates the role of internal audit systems in preventing fraud within Indonesian technology startups, emphasizing their vulnerability due to underdeveloped governance structures and exploring how regulatory frameworks and internal mechanisms can mitigate these risks. Using a qualitative approach that combines regulatory analysis, literature review, and case study evaluation, the research triangulates Indonesian regulatory documents (PP 71/2019, UU PDP 27/2022, POJK 40/2024), ACFE global fraud reports, and case evidence from eFishery, Investree, and TaniFund to examine audit failures and formulate best practices. The findings reveal that financial constraints, cultural attitudes, and limited audit knowledge hinder the effective implementation of internal audit systems, while whistleblowing mechanisms—though essential—require integration with formal audit processes to deliver meaningful impact. Case analyses further confirm that audit deficiencies contribute to regulatory sanctions and operational instability, underscoring the importance of adopting maturity models (e.g., COSO, IA CM) and analytics-driven continuous auditing to enhance responsiveness. Overall, the study concludes that internal audit should be positioned as a strategic enabler rather than a mere compliance obligation; when integrated with whistleblowing channels and supported by audit maturity frameworks, it can significantly reduce fraud exposure, strengthen governance, and foster sustainable growth in technology startups across emerging markets.
Balancing Revenue and Retention: The Impact of VAT Based Digital Taxation on Platform Strategy and Consumer Behavior in Indonesia Indriasari, Ika; Nurlaela, Lina
Summa : Journal of Accounting and Tax Vol. 3 No. 4 (2025): October 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v3i4.878

Abstract

The rise of digital services has transformed global consumption patterns and presented challenges for traditional taxation systems. In response, Indonesia implemented a digital VAT policy known as Pajak Pertambahan Nilai Perdagangan Melalui Sistem Elektronik (PPN PMSE), targeting foreign digital service providers. This study examines the pricing impacts of this policy by analyzing the responses of Netflix (2020) and Spotify (2025) to the VAT imposition. Using an event study methodology and price tracking data, we estimate the pass through rate of VAT to consumers and explore associated consumer behavior. The analysis reveals that Netflix’s pricing fully incorporated the 10% VAT in 2020, reflecting a near complete pass through rate. Early reports indicate that Spotify is expected to adjust pricing similarly in response to the 2025 VAT rate update (12% nominal, ~11% effective). These findings suggest that VAT burdens are primarily transferred to end users, especially in subscription based digital services. Consumer sensitivity to these price changes varied by income and perceived service value, with digital literacy and price transparency playing moderating roles. Our results support prior empirical research showing inelastic demand in OTT services and underscore the importance of clear tax communication. While inflation and macroeconomic factors complicate price attribution, platform strategies such as loyalty programs and inclusive pricing appear effective in maintaining user retention. The Indonesian case illustrates how VAT frameworks can achieve fiscal objectives without disrupting digital service markets. This study contributes to ongoing debates on digital tax policy by providing empirical insights from a major emerging economy. The findings affirm the administrative feasibility and policy coherence of VAT based digital taxation, offering lessons for other jurisdictions navigating similar reforms.
Scope, Standards, and Signals: ESG Assurance and Profitability under Indonesia’s Evolving Disclosure Regime Noviana, Ita; Hamdah, Dida Farida Latipatul
Summa : Journal of Accounting and Tax Vol. 2 No. 4 (2024): October 2024
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v2i4.879

Abstract

This study investigates the impact of ESG (Environmental, Social, and Governance) assurance and disclosure quality on the financial performance of companies listed in the IDX ESG Leaders Index in Indonesia. Motivated by regulatory advances such as POJK 51/2017 and the adoption of SPK Indonesia aligned with IFRS S1 and S2, the research assesses whether comprehensive and credible ESG disclosures enhance Return on Equity (ROE) and reduce cost of capital. Using panel data for Q1 2024 and a balanced sample of 30 firms, the analysis examines ESG disclosure indicators Scope 1, 2, and 3 emissions, third party assurance, governance structures, and reference to global standards (GRI, ISSB) and their associations with ROE, excess returns, and cost of debt. Panel regression results show that firms with ESG assurance exhibit significantly higher ROE. Scope 3 emissions disclosure and alignment with ISSB also correlate with reduced financing costs. Robustness tests confirm the stability of results. The findings demonstrate that ESG assurance acts as a signal of credibility, mitigates greenwashing risk, and enhances market perception. Companies with strong ESG governance and transparent, standardized disclosures are more likely to attract investment and secure favorable financing terms. As Indonesia moves toward mandatory ESG assurance through SPK Indonesia, this research supports regulatory emphasis on verifiability and standard alignment. The study contributes localized empirical evidence from a leading Southeast Asian market and informs policy design, investor strategy, and corporate governance practices under evolving ESG disclosure standards.
Digital Tax Transformation and Corporate Compliance: Evidence from Indonesia’s e-Bupot Unification System Kawuri, Sri; Alkautsar, Muslim; Putri, Marissa Disthy
Summa : Journal of Accounting and Tax Vol. 2 No. 4 (2024): October 2024
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v2i4.886

Abstract

Indonesia has advanced digital tax reforms through the e-Bupot Unification system, mandated since April 2022, to centralize withholding tax reporting (PPh 4(2), 15, 22, 23/26). This study assesses its effectiveness in improving corporate compliance—timeliness, accuracy, and error reduction—during March–June 2024. Using a quasi-experimental before–after design, data were collected from e-Bupot logs, DJP e-filing records, and taxpayer registries for 250 corporations. Indicators included on-time filing, validity of submissions, and error rates. Analysis combined descriptive statistics, paired t-tests, and regression. Results show substantial progress: on-time filing rose from 74.2% to 88.6%, validity rates from 81.5% to 93.2%, while error rates declined from 6.4% to 2.1%. Regression confirmed significant effects of PJAP integration and firm size. Larger firms and PJAP users achieved stronger compliance, whereas SMEs improved modestly, limited by IT capacity. Sectoral differences emerged, with service and e-commerce outperforming manufacturing. Consistent with OECD and IMF findings, e-Bupot demonstrates digital platforms’ effectiveness in reducing compliance gaps. While the system benefits larger firms most, SMEs require training, infrastructure support, and simplified interfaces. Policymakers should expand PJAP partnerships, adopt sector-specific approaches, and invest in digital literacy to ensure equitable outcomes. This study provides empirical evidence from a developing economy, affirming digital reforms’ role in strengthening compliance and modernizing tax governance.
Tracing Digital Collusion: A Forensic Legal Framework for Asset Recovery in Indonesian E Commerce Wahyuningsih
Summa : Journal of Accounting and Tax Vol. 2 No. 1 (2024): January 2024
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v2i1.887

Abstract

Seller collusion on e commerce platforms undermines fair competition and creates measurable risks for financial integrity and erodes consumer trust. This study investigates Indonesia’s capacity to trace and recover assets derived from such digital collusion by evaluating the legal, forensic, and institutional frameworks currently in place. Methodologically, the study combines doctrinal legal analysis with digital forensic protocols under ISO/IEC 27037. It draws from three empirical datasets: seller account metadata, financial transaction flows (VA, e wallet, bank accounts), and enforcement records (seizures, freeze orders, beneficial ownership disclosures). The analysis is further contextualized through international case studies from the United Kingdom and the United States. Results show that Indonesia's existing legal instruments such as the Anti Money Laundering Law (UU 8/2010), KUHAP Articles 39/46, and Perpres 13/2018 on Beneficial Ownership are theoretically adequate but operationally underutilized. Institutional silos, lack of real time data access, and limited forensic capabilities hamper timely asset tracing. However, evidence from forensic analytics such as synchronized pricing, mutual refund loops, and shared account linkages offers a viable pathway for detection. AI based tools and graph analytics are identified as valuable enablers. The discussion emphasizes the importance of regulatory synchronization, risk based privacy access models, and alignment with global best practices (e.g., POCA, BSA). Successful asset tracing also hinges on adherence to the Personal Data Protection Law (UU 27/2022), requiring encryption, pseudonymization, and strict access governance. The study concludes that an integrated framework combining legal reform, forensic capacity building, and ethical data governance is essential for Indonesia to enhance its digital asset recovery strategy.
Tax Governance in the Era of Pillar Two: Legal Certainty, Risk Management, and Strategic Responses in Indonesia Listyawati, Ika; Nurlaela, Lina
Summa : Journal of Accounting and Tax Vol. 3 No. 2 (2025): April 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/summa.v3i2.888

Abstract

This study investigates Indonesia’s implementation of a global minimum tax under PMK 136/2024, which aligns with the OECD’s Pillar Two framework. The regulation introduces a 15% minimum effective tax rate for multinational enterprises (MNEs), aiming to address tax base erosion and ensure fair cross border taxation. The primary objective of this research is to assess the compliance implications, strategic adjustments, and governance challenges faced by MNEs operating in Indonesia under this new regime. A qualitative methodology was employed, incorporating literature synthesis, comparative regulatory analysis, and thematic interpretation of professional insights and policy documentation. The study draws upon Indonesia’s regulatory structure, OECD guidance, and professional commentaries to evaluate legal certainty, compliance obligations, and strategic tax planning responses. Key findings reveal that the regulation significantly increases administrative burdens for MNEs, particularly in managing GloBE Information Returns, calculating jurisdictional effective tax rates, and reconciling data between reporting streams. Transitional provisions, such as safe harbours and SBIE carve outs, offer partial relief but require detailed governance. The study also highlights that egal ambiguities, such as differences in interpretation of SBIE and limited administrative capacity, pose compliance risks in the form of late GIR reporting, errors in ETR calculations, and potential fines during the transition phase. The study concludes that Indonesia’s adoption of global minimum tax standards marks a transformative step in international tax policy. While the regulation promotes alignment with global norms, its successful implementation hinges on regulatory clarity, digital infrastructure, and institutional readiness. The findings offer practical guidance for policymakers and corporate decision makers seeking to navigate complex international tax reforms.

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