INCOME TAX ACCOUNTING ANALYSIS AT BPR MILLENIA MANADO

Abstract

Indonesia is currently undergoing a developmental phase, making significant efforts to advance in different areas to enhance the welfare of its citizens, as articulated in the preamble of the 1945 Constitution. The primary sectors that heavily impact income tax revenues are manufacturing, trade, and finance. The finance sector generates approximately 14% of the overall tax revenue. This sector encompasses entities offering financial services to the public, such as banks. Banks are commonly preferred by individuals for saving due to the ease of managing and accessing the funds they provide. This research employs a descriptive qualitative approach, utilizing methods like observation, interviews, and the gathering of documents to gather information. The study results indicate that BPR Millenia Manado's tax determinations are compliant with applicable tax regulations, particularly adhering to Finance Minister Regulation (PMK) No. 212 / PMK.03 / 2018, which governs income tax deductions on interest from deposits and savings. As per Article 4 paragraph 2 of the Income Tax Law, a 20% deduction is applicable. Taxes for that timeframe were computed by multiplying the applicable interest rate by the total interest accrued. Nonetheless, the approach taken by PT. BPR Millenia Manado in calculating interest appears to lack consistency, especially concerning the final balance subjected to administrative fees. If the administrative deduction occurs on the 16th, then the interest from that deduction is factored in to reduce the balance on the 17th. The recording aligns with existing regulations, the calculations adhere to governmental standards, and reports are submitted punctually.