General & Misc

President Jokowi to familiarize Public with PPPh Policy for MSMEs

Date: 12 July 2018; Type: Industry Updates; Source: Antara

Jakarta, July 12 (ANTARA News) - President Joko Widodo will disseminate information on a policy in which the Final Income Tax (PPh) for Micro, Small, and Medium Enterprises (MSMEs) is set at 0.5 percent during the 71st National Cooperatives Day 2018.

The head of state will be present during the main event of the 71st Anniversary of National Cooperatives Day at the Bumi Serpong Damai Indonesia Convention Exhibition in Tangerang, Banten, on Thursday.

On the occasion, the president will acquaint the public with the policy in which PPh for MSMEs is set at 0.5 percent.

Cooperatives and Small and Medium Enterprises Minister AAGN Puspayoga remarked that the 71st National Cooperatives Day 2018 is themed, "Strengthening Cooperatives to Support National Economic Growth."

Puspayoga said equitable economic growth is needed to realize a just society.

"The Cooperatives have a strategic role to achieve equity, as there could be economic growth but it is enjoyed only by a certain group of people," the minister pointed out.

Furthermore, he noted that to increase the role of cooperatives in realizing equitable economic growth, in accordance with the directive of President Widodo, the Ministry of Cooperatives and SMEs has run the Cooperatives Total Reform through three strategic steps: Reorientation, Rehabilitation, and Development.

The goal is to develop a quality cooperative as an organization that provides welfare to its members and offers benefits to the community.

"In the four years of the Reformation of Total Cooperatives, many successful cooperative arrangements have been carried out on the drivers of the cooperatives, the community, and the institutional cooperatives themselves. People are beginning to realize that the quality of cooperatives is the most important aspect and not the pursuit of the quantity of cooperative institutions," he remarked.

The data on cooperatives is being improved, so that they become more active. The number of cooperatives in 2014 had reached 212,570, but the figure reduced to 152,714, and a total of 40,013 were disbanded due to inactivity.

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