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UI Students Won 1st Place in Digital Accounting Competition 2024, Examining the Central Role of Generation Z in Tax Policy Making

Universitas Indonesia > News > Faculty of Administration News > UI Students Won 1st Place in Digital Accounting Competition 2024, Examining the Central Role of Generation Z in Tax Policy Making

Three Faculty of Administrative Sciences students won 1st place in the 2024 Digital Accounting Competition organized by the Association of Young Indonesian Accountants for the East Java region. The students are from FIA UI Business Administration study program batch 2022, namely Muhammad Reza Pahlefy, Brian Egbert, and Muhammad Firza Arizian.

The competition was held from 25 December 2023 to 25 February 2024. They raised the sub-theme of Value Added Tax (VAT) and the very significant impact of VAT on tax revenues. This theme was chosen because it is closely related to business aspects, especially in the context of the production and distribution process of goods or services. They also highlight the central role of Generation Z in tax policy-making.

Muhammad Reza Pahlefy said that VAT is known as a money maker for the government because it makes a large contribution to total tax revenue every year. However, many residents are still unaware of their tax contribution to VAT. This factor encourages us to highlight the importance of public awareness and understanding, especially Gen Z, of the role of VAT in the tax context.

Generation Z, who were born from 1997 to 2012, are expected to be agents of change in policy formulation and development of the tax system in Indonesia. Their responsibilities are not limited to implementing tax obligations but also include being drivers of innovation and economic actors.

Tax education is very important for Generation Z so that they understand their tax obligations and their impact on social and economic development. Furthermore, Brian Egbert said that Generation Z’s support for local economic growth, especially in small and medium-sized businesses, can significantly contribute to increasing local tax revenues.

Having educational backgrounds in Business Administration, the three of them revealed that they needed to learn more about taxes to give the best outcomes in this competition. Reza said that they had to ensure that the Tax Law was in accordance with the latest regulations. This is because tax regulations are always updated, especially for VAT, Luxury Goods Sales Tax (PPnBM), Law on Harmonization of Tax Regulations (UU HPP), Minister of Finance Regulations (PMK), Government Regulations in Lieu of Laws (Perpu) and Building Tax 1 (PB1).

Meanwhile, Muhammad Firza Arizian said, “Currently we are undergoing tax and accounting professional certification to adjust business policies. We continue to learn and try to implement the material directly through competitions. Through this, we realize that if we decide to study tax, we must be prepared to learn forever and adapt to the latest tax regulations.

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