The Underpayment Distributed until the End of the Year
The central government stated that the underpayment of the profit sharing of Rp 21.1 trillions will be paid starting this month up to the end of the year. This is as regulated by the Finance Minister’s Regulation Number 162/PMK.07/2016 regarding the details of underpayment and overpayment of the profit sharing fund according to Provinces/Regencies/Cities allocated in the revision of the state budget (APBN) Fiscal Year 2016.
The Director General of the fiscal balance of the Finance Ministry, Boediarso Teguh Widodo, stated that the underpayment worth Rp 21.1 trillion is part of the payment plan of Rp 23.3 trillion as in the revision of the state budget Fiscal Year 2016. Around Rp 2.2 trillion have been stipulated in the Finance Minister’s regulation Number 259/PMK.07/2015.
“The underpayment of the profit sharing fund as stipulated in that regulation will be mostly distributed to regional governments in November 2016 while the rest will be in December 2016,” He said on Tuesday (11/15).
The underpayment included the profit sharing fund of the income tax of Rp 9.6 trillion, the land and building tax of Rp 6.7 trillion, the tobacco customs of Rp 37.1 billion, oil and gas of Rp 3.2 trillion, mineral and coal of Rp 888 billion, forestry of Rp 645.1 billion, and the geothermal of Rp 139.4 billion.
Boediarso said that the underpayment of the profit sharing fund is part of the Fiscal Year 2012 to 2015. The amount is calculated based on the audit of the BPK on the state revenue that is profit shared.
The calculation comes from the difference between the profit sharing fund distributed until the forth quarter of the ongoing year with the amount of the fund calculated based on the realization of the state revenue audited by the BPK.
Overall, He continued, the total amount of the underpayment until 2015 is Rp 42 trillion. From this amount, the state budget of this year has allocated Rp 5.5 trillion that had been distributed in January 2016. Thus, there are Rp 13.9 trillion of the underpayment left, out of which, Boediarso said, Rp 10.9 trillion have been included in the state budget of 2017, while there are Rp 3 trillion that will be proposed to be included in the revision of the state budget plan of 2017.
OVERPAYMENT
Apart from the underpayment, the BPK’s audit also shows that there were an overpayment of the profit sharing fund. It is the difference between the fund distributed until the forth quarter of the ongoing year with the amount of the fund calculated based on the realization of the state revenue audited by the BPK.
He revealed the total amount of the overpayment of Rp 8.4 trillion has been stipulated in the Minister’s regulation. The overpayment includes the profit sharing fund of tax worth Rp 703.8 billion and natural resources worth Rp 7.7 trillion.
The finalization of the overpayment, He continued, will be done by calculated within the distribution from 2017 until 2019 to each region.
“Among others by considering the ceiling of the fund that will be calculated, the amount of the cut request from the region, and the fiscal capacity of the respective regions,” He said.
Bisnis Indonesia (Wednesday, November 16, 2016, page 4)