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The LCGC products by automotive companies in Indonesia: Brio (Honda), Ayla (Daihatsu), Wagon R (Suzuki), and Agya (Toyota). (Image via Brilio)
LCGC's price hiked by the luxury tax
Stipulated under Government Regulation (PP) No. 73 of 2019, the Indonesian government had determined a new tariff for luxury tax (PPnBM) for the low-cost green car (LCGC). The Ministry of Industry revealed that currently, LCGC products will be slapped with 3% PPnBM.Written in Article 25 of PP No. 73 of 2019, PPnBM of LCGC is at 15% with a 20% tax basis from the sales price. The policy applies for LCGC products with 1,200cc gasoline capacity with fuel efficiency up to 20km/l or with carbon dioxide emission up to 120g/km. For diesel with 1,500cc and fuel efficiency up to 21.8km/l or carbon monoxide emission up to 120g/km.
Industry Ministry’s Director of Maritime Industry, Transportation Equipment, and Defense Equipment, Putu Juli Ardika, explained that the new regulation is not different from the previous one. Through a text message, Putu explained that for LCGC, 15% PPnBM with a 20% tax basis is equal to 3%.
The 3% PPnBM tariff for LCGC product had been proposed in the PPnBM harmonization draft in July 2019 by the Industry Ministry. The new regulation officially cancels the exception of PPnBM on LCGC product stipulated in the Government Regulation No. 41 of 2013 on taxable goods that belong to luxury in the form of a motor vehicle that is subject to the sales tax over luxury goods.
LCGC BECOMES MORE PRICEY
Due to the tax hike, the price of LCGC also hiked. For example, if an LCGC product is sold at Rp10 million, then by the 3% tax, the price goes up to Rp13 million. There are five automotive industries in Indonesia sell LCGC products: Daihatsu, Toyota, Suzuki, Datsun, and Honda. The price ranges from Rp98,1 million to Rp167,6 million.
The price hike might affect Indonesian people to shift to the “cheaper cars” such as the Chinese automotive company, Wuling. Only for Rp146 million, Indonesian people may purchase Wuling Confero S unit.
These automotive companies also showed various reactions. Toyota-Astra Motor (TAM), for example, stated that it will monitor how the price hike may affect the Indonesian customers. However, TAM is still optimistic that LCGC will thrive in Indonesia still.
On the other hand, Astra Daihatsu Motor (ADM) showed an indifferent reaction. For ADM, it is up to the customers whether they want to shift to Chinese, cheaper cars or still opting for LCGC.
Source: https://bit.ly/2WaAWZW
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