International Journal of Economy.
Education, and Entrepreneurship p-ISSN: 2798-0138 | e-ISSN: 2798-012X Vol.
No.
April 2024 https://doi.
org/10.
53067/ije3.
THE EFFECT OF CHANGES IN VALUE-ADDED TAX RATES (VAT)
AND COST OF GOODS SOLD (COGS) ON SALES TURNOVER AT PT.
VCS
Maranatha Kezya Beauty Caesaria Asah1.
Tituk Diah Widajantie2* 1,2Universitas Pembangunan Nasional AuVeteranAy Jawa Timur.
Indonesia E-mail: maranathakezya@gmail.
com , tituk.
ak@upnjatim.
Abstract The increase in Value Added Tax (VAT) rates and the rise in Cost of Goods Sold (COGS) significantly impact the business strategy and profitability of the company.
The research aims to examine the impact of the increase in VAT rate and changes in the Cost of Goods Sold on PT's business strategy and VCS.
The method used is quantitative research using PT's sales data.
VCS from 2018 to 2022, as the population was selected through a purposive sampling method.
Data analysis was conducted using SPSS version 27.
The research findings indicate that the increase in the value-added tax rate significantly impacts PT's sales revenue.
VCS, while the increase in Cost of Goods Sold does not considerably affect the company's Sales Revenue.
Keywords: Value Added Tax (VAT) Rate.
Cost of Goods Sold (COGS).
Sales Revenue.
Freight Forwarding Services INTRODUCTION State revenues have an essential role in supporting various government functions, such as providing public services, developing infrastructure, and meeting the general needs of society.
One of the critical factors in state income is taxes, which are obligations that citizens and business entities must fulfill to contribute to the government.
(Desideria & Ngadiman, 2.
One type of tax that has a strategic role in supporting state revenue is Value Added Tax (VAT).
This type of tax is managed by the central government through the Ministry of Finance and carried out by the Directorate General of Taxes(U.
Gunawan, 2.
VAT is a tax obligation imposed on every purchase and sale transaction of goods and services by tax entities, whether individuals or business entities, that meet the requirements as Taxable Entrepreneurs (PKP).
(Silaen & Singgih, 2.
Every Taxpayer as an Entrepreneur who is subject to Value Added Tax by the Value Added Tax Law of 1984 and its amendments must report his business activities to be recognized as a Taxable Entrepreneur (PKP)(Government of Indonesia, 2.
as regulated in Law of the Republic of Indonesia Number 7 of 2021 concerning Harmonization of Tax Regulations.
Starting April 1, 2022, the government will increase the VAT rate from 10% to 11% and from 1% to 1.
1% by the provisions of Law Number 7 of 2021 concerning Harmonization of Tax Regulations (UU HPP).
PT.
VCS operates in the transportation sector, including domestic and international freight forwarding services.
This company has a vital role in the global supply network by arranging the delivery and transportation of goods effectively and regularly.
According to the latest regulations from(Minister of Finance of the Republic of Indonesia, 2.
, in regulation number 71/PMK.
03/2022 concerning Value Added Tax (VAT), the VAT rate for the delivery of certain taxable services such as freight bills Maranatha Kezya Beauty Caesaria Asah.
Tituk Diah Widajantie The Effect of Changes in Value-Added Tax Rates (VAT) and Cost of Goods Sold (COGS) on Sales Turnover at PT.
VCS
and transportation services to customers has been fixed at 1.
This VAT is identified with code 05 on the tax invoice.
Due to the increased value-added tax (VAT) rates, many companies and business actors face Especially in the transportation management sector, this increase causes an increase in the Cost of Goods Sold in transportation service business operations, affecting selling prices and potentially affecting the company's sales turnover.
According to(Herman, 2.
, an increase in the cost of goods sold can reduce sales turnover, so it is essential to evaluate the impact as a reference for management in making decisions.
Cost of Goods Sold is a term in accounting that includes costs incurred in each process of producing goods, whether created by yourself or other parties.
Before setting up HPP, business owners must understand the components involved in production(Anggraini, 2.
These components include raw material costs.
Direct Labor Costs (BTKL), shipping costs, and sales costs such as commissions or marketing costs.
COGS is an integral part of the field of accounting and financial reporting.
Knowledge of sales costs is necessary to prepare accurate financial reports, including profit and loss statements.
Sales activities are vital in achieving maximum profitability and ensuring business continuity aligns with desired growth.
The company is expected to continue to grow through sales, including income from the sale of goods and services through credit and cash transactions(Amaliyah et al.
, 2.
Based on research conducted by (Putri & Subandoro, 2.
, with the title "Analysis of the Effect of an 11% VAT Rate Increase on Sales at PT This research is strengthened by other research conducted by(FP et al.
, 2.
, with the title "The Effect of Increases in Value Added Tax (VAT) Rates and Raw Material Costs on Sales Turnover at PT Buana Raya Lestari" it was found that these two variables had a significant influence on sales turnover.
Based on this background, a title can be drawn: "The Effect of Changes in Value Added Tax (VAT) Rates and Cost of Goods Sold on Sales Turnover at PT.
VCS".
Based on this background, the problem formulation in this research is whether changes in Value Added Tax Rates (VAT) and Cost of Goods Sold (HPP) affect PT's sales turnover.
VCS.
Based on the problem formulation, this research aims to test and prove the influence of changes in Value Added Tax Rates (VAT) and Cost of Goods Sold (HPP) on the sales turnover of PT.
VCS.
METHOD
The type of research used in this research is quantitative research.
The population used in this research is the Sales Report of PT.
VCS 2018 to 2022.
The sampling technique used in this research was purposive sampling.
According to Sugiyono .
1: 95-.
, purposive sampling is a technique for sampling data sources with specific considerations.
The criteria for determining the sample are as A Data from PT.
The VCS is still complete and can be observed.
A Data from PT.
System-organized VCS.
International Journal of Economy.
Education and Entrepreneuship.
Vol.
No.
April 2024, pp.
https://doi.
org/10.
53067/ije3.
Table 1.
Sample Criteria Sales Report 2018-2022 Sales reports that are not organized by the system Incomplete sales reports Number of samples that meet the criteria Source: Author .
The primary and secondary data are used.
Primary data was obtained from observations in the tax division of PT.
VCS, while secondary data at PT.
VCS uses documentary data collection by obtaining data directly from the research site.
Based on the criteria table, it can be concluded that the sample used is a sales report from PT.
VCS from 2019 to 2022
RESULTS AND DISCUSSION
Description of Value Added Tax (VAT) Rates PT.
VCS began to be recognized as a Taxable Enterprise (PKP) in 2017, and from then on, the company collected and paid Value Added Tax (VAT).
Recapitulation of Value Added Tax (VAT) data for 2019Ae2022 is as follows:
Table 2.
Sample Value Added Tax (VAT):
Month
January 29,242,013 44,445,565 February 27,164,465 46,299,369 March
37,956,504
44,063,773
April
33,996,805
58,848,460
May 30,119,099 44,886,572 June
22,287,422
48,493,913
July 32,622,695 51,494,349 August
40,075,179
39,356,781
September 33,608,429 37,764,475 October
50,767,299
47,585,734
November 47,981,566 51,425,143 December 48,555,993 114,753,941 Total
434,377,469
629,418,075
Source: Data processed by the Author .
55,550,334 83,543,400 78,188,837 67,808,009 128,240,502 91,865,206 109,952,853 93,787,652 182,715,729 1,244,563,349
120,186,646
116,093,985
109,134,538
95,420,387
132,087,068
82,505,819
73,523,003
71,945,649
66,721,484
68,090,259
1,149,977,365
Description of Cost of Goods Sold (COGS) Cost of Goods Sold calculated in PT.
VCS operates in freight forwarding, namely transportation costs, goods handling costs, insurance costs, security and maintenance costs, temporary storage costs, other logistics costs, and additional operational costs.
The following is a recapitulation of PT's Cost of Goods Sold data.
VCS from 2019-2022:
Maranatha Kezya Beauty Caesaria Asah.
Tituk Diah Widajantie The Effect of Changes in Value-Added Tax Rates (VAT) and Cost of Goods Sold (COGS) on Sales Turnover at PT.
VCS
Table 3.
Sample Cost of Goods Sold (HPP) Month
January 2,724,337,049 4,064,262,682 February 2,539,751,766 4,018,757,406 March
3,289,715,570
3,864,847,617
April
3,114,382,171
5,370,772,977
May 2,560,117,101 3,857,001,394 June
1,730,210,102
4,296,969,840
July 2,793,254,668 4,309,936,741 August
3,061,818,590
3,320,375,666
September 2,861,269,895 3,191,903,204 October
4,493,953,277
3,860,068,460
November 4,441,298,985 4,697,406,910 December 4,135,256,882 10,752,464,487 Total
37,745,366,056
55,604,767,384
Source: Data processed by the Author .
5,459,112,241 7,932,938,093 10,385,837,239 7,091,210,238 6,116,451,761 11,024,913,006 8,782,469,444 9,497,642,812 8,480,899,324 10,430,920,819
16,566,883,067
10,991,660,158
11,043,353,629
10,768,489,888
9,909,790,622
8,059,780,328
7,085,998,778
6,814,435,175
7,453,043,829
6,567,441,462
6,129,775,803
5,653,736,199
5,947,597,653
Description of Sales Turnover Sales turnover, which shows the volume of transactions and business activities, is the leading indicator of business performance in freight forwarding services.
The following is a research sample from PT Sales Turnover.
VCS 2019-2022:
Table 4.
Sales Turnover Sample Bulan Januari Februari Maret April Mei Juni Juli Agustus September Oktober November Desember Total Persentase Naik/Turun -13% -77% -6% -89% -63% Persentase Naik/Turun -13% -5% -14% -36% -5% -102% Persentase Naik/Turun -43% -10% -136% -57% -67% -29% Persentase Naik/Turun -14% -693% -558% -955% -1% -54% Source: Data processed by the Author .
According to Table 4.
PT's sales turnover is high.
VCS experiences fluctuations every month.
Total turnover in 2019 was 5,692,377,684, increased to 7,337,036,046 in 2020, then jumped significantly to 11,262,374,571 in 2021 and slightly higher to 12,428,779,933 in 2022.
The percentage increase or decrease analysis shows significant changes from month to month and year to year.
For example.
February 2020 recorded a significant increase of 38% compared to the previous month, while September 2019 recorded a significant decrease of 89%.
International Journal of Economy.
Education and Entrepreneuship.
Vol.
No.
April 2024, pp.
https://doi.
org/10.
53067/ije3.
Normality test Tabel 5.
Normality test
One-Sample Kolmogor ov-Smir nov Test
Unstandardized Residual Normal Parametersa,b Mean
,0000000
Std.
Deviation 1,19580458 Most Extreme Differences Absolute ,139 Positive ,107 Negative -,139 Test Statistic ,139 Asymp.
Sig.
-taile.
,071
Monte Carlo Sig.
d Sig.
,070
99% Confidence Interval Lower Bound
,076
Upper Bound
,074
Test distribution is Normal.
Source:
SPSS 27 output Calculated from data.
Lilliefors From the SPsignificance output dataCorrection.
above, it can be seen that the value of Asymp is high.
Sig.
-taile.
Lilliefors' method based on 10000 Monte Carlo samples with starting seed 1314643744.
071 E out of 0.
05, so the data can be said to be normally distributed.
Multicollinearity Test Tabel 6.
Multicollinearity Test
Coefficients a Collinearity Statistics Model
Tolerance PPN
VIF
,638
1,567
HPP
,638
Dependent Variable: OMSET
1,567
Source: SPSS 27 output The test results prove that each independent variable has a VIF value of less than ten or a Tolerance value of more than 0.
Thus, there is a multicollinearity relationship between the independent variables in this study.
Autocorrelation Test Tabel 7.
Autocorrelation Test Model Summaryb Model Durbin-Watson 1,679a Predictors: (Constan.
HPP.
PPN Dependent Variable:
OMSET
Maranatha Kezya Beauty Caesaria Asah.
Tituk Diah Widajantie The Effect of Changes in Value-Added Tax Rates (VAT) and Cost of Goods Sold (COGS) on Sales Turnover at PT.
VCS
Source: SPSS 27 output Based on the test results, it can be seen that the Durbin Watson (DW-Tes.
value is 1.
679, between -2 and 2.
this is in accordance with the basis for decision-making, so in the regression equation, there is no autocorrelation.
Heteroscedasticity Test Tabel 8.
Heteroscedasticity Test Unstandardized Coefficients Std.
Error Model (Constan.
-16,826 3,295 PPN
-,041
,616
HPP
,812
,602
Standardized Coefficients Beta Sig.
-5,106
,000
-,038
-,066
,947
,766
1,349
,184
Source: SPSS 27 output Based on the results of the heteroscedasticity test via the Glejser test, it can be seen that the significance value of the VAT and COGS variables is C 0.
Therefore, it can be concluded that heteroscedasticity does not occur in the variables used in this research.
Multiple Linear Analysis Test Tabel 9.
Multiple Linear Analysis Test Unstandardized Coefficients Std.
Error Model (Constan.
10,871 7,526 PPN
5,497
1,406
HPP
-3,957
1,375
Standardized Coefficients Beta Sig.
1,444
,156
2,303
3,910
,000
-1,695
-2,878
,006
Source: SPSS 27 output Based on Table 9, the following multiple linear regression equation can be obtained:
ycU = 10,871 5,497 Oe 3,957 yce From the multiple linear regression equation, the constant value obtained is 10.
871, which shows that if all independent variables have a value of 0 or are constant, then the Sales Turnover (Y) value increases by 10.
871 units.
The value of the regression coefficient is 5.
a positive regression coefficient value indicates that there is a unidirectional relationship between Sales Turnover (Y) and Value Added Tax (), meaning that when VAT () increases by one unit, it will increase the value of the Turnover variable ( Y) of 5.
The regression coefficient value is -3.
957, indicating a negative value, meaning that when the Cost of Goods Sold () variable increases by one unit, it will result in a decrease International Journal of Economy.
Education and Entrepreneuship.
Vol.
No.
April 2024, pp.
https://doi.
org/10.
53067/ije3.
in the value of the turnover variable (Y) of 3.
ycU1 ycU1 ycU2 Model Fit Test (F Tes.
Tabel 10.
Model Fit Test (F Tes.
ANOVAa
Sum of Squares Model
Mean Square Regression 34,980 17,490 Residual 35,496 ,789 Total
70,476
Sig.
22,173
,000b Source: SPSS 27 output The F-test results in Table 10 show a significance value of 0.
000, which indicates that this value is smaller than 0.
This results in rejecting and accepting the independent variables, which positively and significantly influence the dependent variable.
Hypothesis Test .
-Tes.
Tabel 11.
Hypothesis Test .
-Tes.
Coefficientsa Unstandardized Coefficients Std.
Error Model Standardized Coefficients Beta Sig.
(Constan.
10,871 7,526 1,444 ,156 PPN
5,497
1,406
2,303
3,910
,000
HPP
-3,957
1,375
-1,695
-2,878
,006
Source: SPSS 27 output From the results of the t-test, it can be seen that the VAT () variable has a significance value of 000, which is lower than 0.
000 < 0.
As a result, it is rejected and accepted, indicating that the Value Added Tax Rate () positively influences Sales Turnover (Y).
Meanwhile, the t-test on the Cost of Goods Sold () variable produces a significance value of 0.
006 with a negative value, which exceeds 05 .
006 > 0.
Therefore, it is rejected and accepted, indicating that the Cost of Goods Sold () has a negative influence on Sales Turnover (Y).
ycU1 ya0 yayca1 ycU1 ycU2 yayca2 ya0 ycU2 Coefficient of Determination Test ycya Tabel 12.
Coefficient of Determination Test ycya Maranatha Kezya Beauty Caesaria Asah.
Tituk Diah Widajantie The Effect of Changes in Value-Added Tax Rates (VAT) and Cost of Goods Sold (COGS) on Sales Turnover at PT.
VCS
Model Summar y Model ,705a Adjusted R Std.
Error of Square the Estimate R Square ,496 ,474 ,88814 Predictors: (Constan.
HPP.
PPN Source: SPSS 27 output From the test results, it can be concluded that the R Square () number is 0.
474, meaning that 47.
of the independent variables can influence the dependent variable.
In comparison, the remaining 52.
is influenced by other factors outside this research which the Author.
R2 did not examine The Effect of Value Added Tax (VAT) Rates on Sales Turnover Based on the results of the Multiple Linear Regression Analysis Test, the calculated t-value () is 910, with a significance level of 0.
000, which is more diminutive than 0.
The Value Added Tax (VAT) rate positively influences Sales Turnover (Y).
These findings indicate that the increase in the value-added tax rate positively and significantly impacts sales turnover at PT.
VCS.
It means that the company experiences instability and a decrease in sales turnover every month as a result of an increase in the Value Added Tax (VAT) rate from 1% to 1.
ycU1 The results of this study are also supported by research results(Gunawan & Sofiani, 2.
, which found that the increase in value-added tax (VAT) rates had a significant influence on sales turnover.
means that when the VAT rate increases, sales turnover also tends to experience significant changes.
shows that tax policy can have a directly visible impact on a company's sales performance.
The Influence of Cost of Goods Sold (COGS) on Sales Turnover The results of the Multiple Linear Regression Analysis Test show that the calculated t value () is 878, with a significance level of 0.
006, more diminutive than 0.
It shows that the Cost of Goods Sold (COGS) does not significantly influence Sales Turnover (Y).
In this context, the Cost of Goods Sold has a negative but insignificant influence on Sales Turnover at PT.
VCS indicates that the Cost of Goods Sold may not be the main factor influencing sales performance.
ycU2 The results of this research align with the findings of research conducted by(Herman, 2.
, which states that there is a negative and insignificant relationship between Cost of Goods Sold (COGS) and profit before tax at PT.
Astra Agro Lestari Tbk.
In other words, although the Cost of Goods Sold has the potential to influence profit before tax, the effect is not statistically significant in this context.
This suggests that other factors may have a greater influence on pre-tax profits, such as pricing strategy and other operating costs, or external factors, such as market conditions and industry regulations.
CONCLUSION
International Journal of Economy.
Education and Entrepreneuship.
Vol.
No.
April 2024, pp.
https://doi.
org/10.
53067/ije3.
The research results examine the effect of changes in value-added tax rates (VAT) and cost-ofgoods sold (HPP) on PT's sales turnover.
VCS, several important conclusions were found.
First, the value-added tax rate significantly influences PT's sales turnover.
VCS from 2019 to 2022.
Second, the Cost of Goods Sold does not significantly affect Sales Turnover in the same period.
Suggestions that can be taken from these results are PT.
VCS is advised to consider various strategies to increase sales turnover, such as adjusting selling prices, more effective marketing strategies, and promotional programs that attract customers.
In addition, it is recommended that further research consider other factors that might influence sales turnover, such as mediating variables or external factors that have yet to be considered in this research.
Limitations of this study include time and resource constraints that affect the depth of analysis and generalization of the findings, as well as data that only covers 2019 to 2022 without considering recent changes that could influence the research results.
ACKNOWLEDGMENTS
The Author would like to express his deepest gratitude to Mrs.
Tituk as the supervisor who has provided guidance, direction, and support in this research.
The Author could complete this journal article correctly with his guidance and assistance.
Apart from that, the Author would also like to thank the PT tax staff.
VCS for their willingness to provide the information and data needed for this research.
Contribution and cooperation are significant for the smooth running of this research.
REFERENCES