Ministry of Finance Uncovers Gold Tax Evasion Scheme, Core Tax Being Fixed Amidst Global Pressure

Today's main issues focus on domestic taxation enforcement and the response to global monetary pressure. Minister of Finance Purbaya Yudhi Sadewa highlights tax avoidance practices in the gold sector, reaffirming the government's commitment to industrial downstreaming. On the other hand, the repair of the Core Tax Administration System (CTAS) shows progress even though its implementation is not yet fully completed. Meanwhile, Bank Indonesia reinforces liquidity to offset the slow transmission of the BI Rate, under the shadow of persistent China-US Trade War tensions that continue to suppress Foreign Capital Flow. The government is also preparing new regulations for the Online Motorcycle Taxi (Ojol) sector as part of its digital economy policy.

The government strives to strengthen state revenue through tax enforcement and administrative modernization. Minister of Finance Purbaya reveals the tax evasion scheme by gold producers, which involves selling below market price. This disclosure shows that the government is tightening supervision over the gold downstreaming industry to curb revenue leakage. Furthermore, Minister Purbaya acknowledges that the Core Tax Administration System (CTAS) repair is not fully complete, but is steadily improving. This acknowledgment underscores the government's commitment to modernizing taxation administration.

In the monetary sector, the challenge of interest rate transmission is addressed with intervention. Bank Indonesia (BI) adds liquidity incentives to banks. This step is taken because the transmission of the BI Rate reduction is still slow, aiming to accelerate the decline in bank lending rates to boost domestic economic growth. Meanwhile, external risks still loom: The China-US Trade War is not yet over, and this conflict affects the Foreign Capital Flow into the Indonesian market. This geopolitical uncertainty is an external risk factor that must be watched in efforts to attract investment.

The government's regulatory focus also expands to the digital economy and labor sectors. The Palace (Government) prepares a new Presidential Regulation (Perpres) that will regulate the tariff and welfare of Online Motorcycle Taxis (Ojol). This new regulation aims to create legal certainty and better protection for drivers and platforms, complementing economic stabilization efforts.

The disclosure of the gold tax evasion scheme and the acknowledgment of Core Tax improvements affirm the Ministry of Finance's focus on taxation enforcement and administrative modernization. On the monetary side, BI's action of adding liquidity incentives shows that the biggest current challenge is transmitting monetary policy to the real sector. Meanwhile, the Ojol Perpres indicates the government's attention to labor issues in the digital economy. Macro-wise, the ongoing China-US Trade War places Foreign Capital Flow into Indonesia under high uncertainty.

Current developments reflect the government's dual efforts to maintain fiscal and monetary stability. Minister of Finance Purbaya highlights gold tax enforcement and the acceleration of the Core Tax system repair to strengthen state revenue, while Bank Indonesia strives to ensure that the interest rate reduction is truly felt by the real sector. On the other hand, external challenges such as the China-US trade war and domestic regulatory adjustments, including the Ojol sector, demand swift and adaptive policy action.