ANALISIS PERBEDAAN KINERJA KEUANGAN PERUSAHAAN ROKOK SEBELUM DAN SESUDAH PENERAPAN KENAIKAN TARIF CUKAI HASIL TEMBAKAU
Abstract
Excise is one of the major sources of state revenues, which every year
Three is always increase in terms of revenue especially for tabacco excise duty.
Increased revenue can’t be separated from government decision to issue a policy
to raise excise tax rates of tobacco products, which in 2012 issued Peraturan
Menteri Keuangan No. 167 / PMK.011 / 2011 which average rate increase is 15%
-16%. With the increase of excise tariffs on tobacco products, it will certainly
have an impact on the financial performance of tobacco companies in Indonesia.
The study was conducted to determine whether there are differences in financial
performance seen from the ratio of liquidity, leverage ratio, activity ratio, and
profitability ratio before and after the application of the increase in excise tariffs
on tobacco products.
The sample is determined by purposive sampling method. Data collection
is done by observation of the company's financial report data. Statistical method
used is paired sample t-test. The results of this study indicate that there are
differences in profit margin and return on equity ratio after the increase of excise
tariff on tobacco products. In the current ratio, current cash debt coverage ratio,
debt to equity ratio, cash debt coverage ratio, inventory turnover, and asset
turnover are not found differences after the increase in excise tariff on tobacco
products.