Institutional Repository | Satya Wacana Christian University: Analisis Kinerja Keuangan Perusahaan pada Periode Sebelum dan Sesudah Penurunan Tarif Pajak Penghasilan WP Badan
ABSTRACT
One of the country's largest source of revenue is derived from the taxation
sector. Currently the source of state budget revenue sector reaches 70%. The
Government's attempt to defend their state income tax as a source of legislation
changes in the visible field of taxation which has been done several times. Tax reform
is the latest in 2008 where one of them change the business entity tax rate as an
attempt for intensification. Changes to rates for tax payers of business entity took
effect in 2009. The changes that the progressive tax rate applicable to the year 2008
turned out to be a single rate of 28% in 2009 and a single rate is lowered to 25% in
2010. Tax rate changes are thought to have an effect on the financial performance of
the company. To see the influence then performed an analysis of the company's
financial performance before and after the tax reform in 2008.
In the study population was manufacturing company. Data sample consisted
of 110 manufacturing companies listed on the Indonesia stock exchange in the period
2008, 2009, and 2010. Financial performance measurement using several financial
ratios. Financial ratios used are (1) The liquidity ratio use Current Ratio (2) The
leverage ratio use Debt to Equity Ratio (3) Profitability ratio use Net Profit Margin,
Return on Equity, and Return on Investment (4) Asset Turnover Ratio use Total
Asset Turnover. Because the data are not normally distributed, then testing financial
ratios using the Wilcoxon Signed-Rank Test.
The results showed that after the rate change from progressive to the single,
the performance of the CR, DER, NPM, ROE, and ROI are making difference while
TATO are not making difference. After the decline of a single tax rate, the
performance of the CR and NPM are making difference while DER, ROE, ROI, and
the TATO are not making difference.
Keyword: tax reform, financial performance, financial ratio.
One of the country's largest source of revenue is derived from the taxation
sector. Currently the source of state budget revenue sector reaches 70%. The
Government's attempt to defend their state income tax as a source of legislation
changes in the visible field of taxation which has been done several times. Tax reform
is the latest in 2008 where one of them change the business entity tax rate as an
attempt for intensification. Changes to rates for tax payers of business entity took
effect in 2009. The changes that the progressive tax rate applicable to the year 2008
turned out to be a single rate of 28% in 2009 and a single rate is lowered to 25% in
2010. Tax rate changes are thought to have an effect on the financial performance of
the company. To see the influence then performed an analysis of the company's
financial performance before and after the tax reform in 2008.
In the study population was manufacturing company. Data sample consisted
of 110 manufacturing companies listed on the Indonesia stock exchange in the period
2008, 2009, and 2010. Financial performance measurement using several financial
ratios. Financial ratios used are (1) The liquidity ratio use Current Ratio (2) The
leverage ratio use Debt to Equity Ratio (3) Profitability ratio use Net Profit Margin,
Return on Equity, and Return on Investment (4) Asset Turnover Ratio use Total
Asset Turnover. Because the data are not normally distributed, then testing financial
ratios using the Wilcoxon Signed-Rank Test.
The results showed that after the rate change from progressive to the single,
the performance of the CR, DER, NPM, ROE, and ROI are making difference while
TATO are not making difference. After the decline of a single tax rate, the
performance of the CR and NPM are making difference while DER, ROE, ROI, and
the TATO are not making difference.
Keyword: tax reform, financial performance, financial ratio.