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"ABSTRAKForeign Investment is believed can accelerate economic growth especially Foreign DirectInvestment. FDI has benefit to host country among others in: - Improvement current balance due to capital inflow in foreign currency for initialactivities and export proceeds (if any). - Reduction of unemployment rate - Increasing economic activities due to more people has more income. - Bringing an international market access to local business. - Increasing demand for domestic sources when raw material for production is suppliedfrom local market. On the other hand it will cost host country in inter-alia: - Weakening current balance in the long run if profit repatriated is generated fromdomestic market. - Diminishing local business that similar to what FDI business activities.Survey of Foreign Direct Investment flow in 1998 states that Asia Pacific still a favorableplace. Growing areas such as Latin America, East Europe will become a thoughcompetitor to Asia Pacific. Most of them remain unchanged their investment value inAsia Pacific even some will expand their investment. It is believed could initiate a fastereconomic growth for Asia countries (see: UNCTAD & ICC survey 1998 & AsianDevelopment Outlook 1999 and ADO 2000). Indonesia is among Asia Pacific country, which currently needs FDI. Since 1980 thetrend shows a steadily increasing, but financial crisis started 1997 has totally change thetrend. Now everybody believed that FDI could help to restore and accelerate economicgrowth. From investor point of view, taxation in host country is part of their consideration beforearriving to invest or not decision. Tax is a direct deduction to cashflow generated andrepatriated to parent company. Return from their investment is partly depends on taxation. Suppose MNC can make thesanie level of profit from operation, a heavier tax burden in one country could alterinvestment place to another country, which offered a lesser tax burden. Tax burden in thiscase is consisting of Corporate or Enterprise Tax and Dividend Tax. Tax burden is heavily depends on tax rate applied and incentives offered related to thatrate. There are some criteria used before granting an incentive. Those criteria could bebecome an instrument to achieve fiscal policy target. 1f one country has a certain target ofunemployment rate, then labor-intensive FDI will get an incentive, because by attractingmore labor-intensive FDI then unemployment rate could be reduced. Another item in taxation considered, as the most important issue in cross-countryoperation is transfer pricing (see: Ernst & Young survey 1999). UnavailabilitY of transferpricing detail regulations and capable persons to implement those regulations could leadinvestment into a higher level uncertainty. There are opportunities to generate moreprofits from investment on one hand and threat to be treated unfairly -means additionalcharge to investment return-on the other hand. In brief, from investor point of view they need as low as possible tax rate or maximumtax incentives to minimize reduction to their return of investment, and a higher certaintyin transfer pricing regulations and practices due to their cross border operation.Indonesian taxation in said above points shows a condition that is not conducive to attractEDI. We only apply one rate for corporate and dividend tax. It makes tax burden sogeneral and applied to all kind of investment or business. There is no specific incentiveavailable to attract FD1. Indonesian tax rate is not the highest but having applied possibleincentive could be utilized, tax burden in Indonesia is the highest. It?s beóause there is noincentive to reduce tax burden. By doing this it seems that government of Indonesia willcollect as much as possible tax regardless multiplier effect of investment. Incentive givenwill reduce government revenue in the short-term, but in the long run along withincreasing economic activities, total revenue will be higher. China has estabLished a detail transfer pricing regulations and personnel. Thailand ispreparing those. Study says transfer pricing still occuffed in China. Indonesia has not yethad those and has a high tax rate. It will push investor to do transfer pricing due to a hightax rate that they try to avoid. Government will not collect an optimum tax becausetransfer pricing makes profit in host country minimum and corporate tax accordingly."

"Industri asuransi telah berkembang pesat dan memiliki bentuk perlindungan yang bermacam-macam. Bahkan asuransi telah dikombinasikan dengan investasi artinya selain memberikan manfaat proteksi terhadap tertanggung, asuransi juga memberikan penghasilan atau manfaat tabungan atas nilai polls yang dibayarkan. Hal ini menimbulkan persoalan dari sisi perpajakan karena santunan asuransi tidak dikenakan pajak saat diterima dengan alasan untuk kepantasan kaiena saat santunan diterima adalah saat yang tidak menyenangkan bagi Wajib Pajak.Setiap pajak yang dipungut hendaknya mcmperhatikan beberapa asas perpajakan, misalnya asas keadilan dan asas netralitas. Perkembangan asuransi yang telah mencakup unsur tabungan dan investasi menjadikan asuransi seperti deposito atau tabungan di bank. Saat ini perpajakan membedakan pengenaan pajak atas penghasilan dari deposito dan tabungan dikenakan pajak iinal sebesar 15%, sedangkan santunan asuransi tidak dipungut pajak kecuali kurang dari tiga tahun.Masalah penelitian ini ada empat, yaitu Apa perbedaan asuransi jiwa murni dengan asuransi unit link yang ada saat ini? Apakah ada substansi ekonomi yang berbeda antara asuransi unit link dengan transaksi deposito di bank? Apakah ada potensi pajak penghasilan atas transaksi asuransi unit link? Bagaimana perlakukan pajak penghasilan atas transaksi asuransi yang seharusnya diterapkan? Sedangkan metode penelitian yang di gunakan adalah metode diskriptif dan pengumpulan data dilakukan dengan melode wawancara, observasi dan studi kepustakaan.Hasil analisis menunjukkan bahwa asuransi jiwa murni sangal berbeda dengan asuransi investasi karena selain unsur proteksi, asuransi investasi memiliki unsur tabungan yang memungkinkan tertanggung mendapaikan keunrungan walaupun tidak terjadi resiko yang dipertanggungkan. Sedangkan asuransi investasi dengan deposito tidak memiliki perbedaan secara substansi ekonomis, karena sama-sama memiliki batasan waktu dan memberikan penghasilan financial.Potensi pemungutan pajak penghasilan dari transaksi asuransi juga ada, yaitu dikenakan atas manfaat tabungan yang diterima Wajib Pajak. Hal ini untuk mewujudkan asas keadilan bagi Wajib Pajak karena tidak memandang sumber penghasilannya dari asuransi atau dari deposito sama-sama dipungut pajak penghasilan. Selain itu juga mewujudkan asas netralitas, karena pajak tidak mempengaruhi pilihan orang untuk memilih jenis kegiatan ekonomi yang akan dilakukannya.Saran yang diberikan adalah pengenaan pajak penghasilan atas transaksi asuransi sebaiknya tidak dibatasi hanya jika penerimaan manfaat tabungan kurang dari tiga tahun tetapi dikenakan pajak saja semuannya karena terbukti secara substansi ada tambahan kemampuan ekonomis dari manfaat tabungan yang memcuuhi unsur penghasilan sebagai objek pajak.

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The insurance industry has been growing fast and offers a variety of insurance. In addition, insurance has been combined into other investments in the sense that in addition to offering protection benefits to the insured, insurance generates savings income or benefits with respect to premium payments. This results in a taxation problems as insurance benefits are exempt from taxation when received for reasonableness in that the time at which benefits are received shall be deemed not a pleasant occasion for the taxpayer

concerned.

Every tax collected should take into account several tax principles such as justice principle, neutrality principle. The growth of the insurance industry such that it covers savings and investment has made insurance have similar characteristics to those of term deposits and savings held with banks. At present tax regulations distinguishes taxes on income from those on term deposits and savings with the latter two being charged with a final withholding tax of 15% and insurance benefits being exempt from taxation unless the benefits are received for a period of less than three years.

The research has four questions: What is the difference between the current pure life insurance and unit~linked insurance? ls there any different economic substance between unit-linked insurance and term deposit transactions at banks? Is there any tax potential in unit-linked insurance transactions? How should insurance transactions be treated by the tax authorities? The research employs descriptive methods and date collection has been conducted through interviews, observations and desk research.

The results of my analysis indicates that pure life insurance differs very much from investment insurance due to the fact that in addition to protection. investment insurance offers savings opportunity which enables an insured to enjoy benefits irrespective ef the occurrence ofthe hazards covered insured against. Investment insurance does not differ in any economic substance from temi deposits as they both are bound by time limits and offer financial income.

There is tax potential in insurance transactions through taxation on any savings benefits received by a taxpayer. This will offer justice to taxpayers as taxes will be collected irrespective of the sources of income, be it on insurance or investment. In addition, this will realize the neutrality principle in that taxation will not affect anyone?s choice of economic activity.

My recommendation is that income taxation on insurance transactions should not be restricted to savings benefits which are received for a period of less than three years but to any and all savings benefits as it proves substantially that there in an additional economic capability arising from savings beneiits which meet the criteria of income as a tax object."

"ABSTRAKPenelitian ini membahas implementasi kebijakan fasilitas pajak penghasilan berupa investment allowance pada periode PP No. 52 tahun 2011 dan PP No. 18 tahun 2015, serta bagaimana pengaruhnya terhadap investasi di Indonesia. Penelitian ini menggunakan pendekatan kualitatif dengan jenis penelitian deskriptif. Hasil penelitian menyimpulkan bahwa meskipun jumlah realisasi investasi meningkat stabil sejak tahun 2011 hingga triwulan pertama 2016, namun tidak diikuti dengan tingginya jumlah Wajib Pajak penerima fasilitas investment allowance. Rendahnya jumlah Wajib Pajak penerima fasilitas investment allowance ini disebabkan oleh beberapa faktor. Ditinjau dari pendekatan realisasi investasi, tujuan pemerintah untuk meningkatkan investasi di Indonesia sudah cukup berhasil meskipun sulit untuk memastikan bahwa kenaikan investasi ini dikarenakan faktor insentif pajak.

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ABSTRACTThis study discusses about the policy implementation of income tax facility in the form of investment allowance, and how it influences the investment in Indonesia. This study used a qualitative approach to the type of descriptive approach. The research concluded that the amount of investment realization increased steadily since 2011 to the first quarter of 2016, but it was not followed by the high number of taxpayer who receive the facility of investment allowance. The low number of taxpayers who receive the facility of investment allowance were caused by several factors. In terms of the approach to the realization of the investment, the government rsquo s aim to increase investment has been quite successfu even though it is difficult to ensure that the increase is due to the investment tax incentive factor."

"Penelitian ini bertujuan menganalisis manfaat keikutsertaan Indonesia dalam rencana aksi Base Erosion Profit Shifting (BEPS) nomor 15 Multilateral Instrument on Tax Treaty /MLI) yang mencakup mengenai latar belakang bergabungnya Indonesia dalam MLI, manfaat posisi Indonesia dalam MLI, implikasi MLI terhadap Persetujuan Penghindaran Pajak Berganda (P3B) Indonesia yang berlaku saat ini dan juga kecukupan posisi Indonesia di MLI dalam kaitannya untuk menangkal praktik BEPS. Penelitian dilakukan dengan menggunakan metode kualitatif deskriptif dengan teknik analisis data kualitatif. Indonesia bergabung dalam MLI adalah wujud komitmen Indonesia sebagai anggota G-20, langkah efisien untuk menerapkan rencana aksi BEPS yang terkait dengan P3B, memperbaiki ketentuan penyalahgunaan P3B dengan memasukkan ketentuan anti avoidance rule berupa Principle Purpose Test (PPT) dan juga memperbaiki ketentuan P3B Indonesia yang dicakup dalam MLI dengan rekomendasi MLI. Dengan menandatangani naskah MLI, maka P3B Indonesia yang tercakup dalam MLI akan dimodifikasi dengan rekomendasi MLI dengan cara mengganti atau menambahkan ketentuan P3B Indonesia yang berlaku saat ini. Posisi Indonesia dalam MLI dinilai cukup ekstensif jika dibandingkan dengan negara lain sehingga dianggap relatif optimal untuk menangkal praktik BEPS di Indonesia melalui jalur P3B. Namun demikian, diperlukan perubahan ketentuan domestik agar dapat MLI diimplementasikan secara maksimal.

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This study aims to analyze the benefits of Indonesias participation in the Base Erosion Profit Shifting (BEPS) action plan 15 (Multilateral Instrument on Tax Treaty/MLI) which covers the rationals of Indonesias joining the MLI, the benefits of Indonesias position in the MLI, MLIs implications for the current Indonesias Double Tax Avoidance Agreement (DTA) and also the adequacy of Indonesias position at the MLI in relation to counter the practice of Base Erosion Profit Shifting (BEPS). The method used in this study is descriptive qualitative with qualitative data analysis techniques. Indonesia joined MLI as a manifestation of Indonesias commitment as a member of the G-20, an efficient way to implement BEPS action plans related to DTA, avoiding improper use of DTA by including the provisions of the Anti-Avoidance rule in the form of Principle Purpose Test (PPT) and also improving the current Indonesian DTA which covered in MLI with MLI recommendations. By signing the MLI, the Indonesian DTA covered in MLI will be modified by the MLI recommendation by replacing or adding to the current Indonesian DTA provisions. Indonesias position in MLI is considered quite extensive when compared to other countries, so it is considered relatively optimal to counter the BEPS practice in Indonesia in the context of DTA. However, changes in domestic regulations are needed for MLI can be well-implemented."

"Tujuan dari penelitian ini adalah untuk menganalisis pengaruh variabel institusional dari Bank Dunia, yaitu kritik dan akuntabilitas Voice of Accountability, stabilitas politik dan ketiadaan kekerasan Political Stability and Absence of Violence, efektivitas pemerintah Government Effectiveness, kualitas regulasi Regulatory Quality, supremasi hukum Rule of Law, dan pengendalian korupsi Control of Corruption bagi penanaman modal asing di negara di negara di BRICS Brasil, Rusia, India, China, Afrika Selatan dan Negara MINT Meksiko, Indonesia, Nigeria, dan Turki. Periode penelitian adalah selama enam tahun, sejak tahun 2010 hingga tahun 2016. Penerapan analisis ekonometrika ini menggunakan regresi linier berganda multiple linier regression data panel untuk mengestimasi parameter dalam hubungan antara variabel terikat berupa Penanaman Modal Asing PMA, dengan variabel bebas berupa 6 indikator institusional dari Worlwide Governance Indicators WGI. Dari hasil penelitian, didapatkan bahwa ada 2 variabel institusional WGI yang berpengaruh signifikan pada PMA, yakni Rule of Law signifikan negatif dan Regulatory Quality berpengaruh positif.

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The purpose of this study is to conduct an analysis of institutional variables from World Bank which are Voice of Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption for Foreign Direct Investment in BRICS countries Brazil, Russia, India, China, South Africa and MINT countries Mexico, Indonesia, Nigeria and Turkey. The research periods are six years, from 2010 to 2016. This study applied econometrics analysis, using multiple linier regression of panel data to estimate the parameters of the relationship between the dependent variable in the form of Foreign Investment PMA, with the independent variable in the form of 6 the institutional indicators from The Worlwide Governance Indicators WGI. It is found that there are 2 institutional variables of WGI which have significant influence on PMA, namely Rule of Law significant negative and Regulatory Quality significant positive."

"ABSTRAKThe development of the manufacturing industry is one of the standards for Indonesia's development as a developing country. Domestic investment (DI) and foreign direct investment (FDI) can meet investment needs in this industry. This paper focuses on the nexus of the two types of investment in meeting investment needs in the manufacturing industry and the influence of those investments in relatively capital-intensive and relatively labor-intensive industrial groups. The aim is to evaluate the role of both types of investments and their benefits to the economy not only to the value-added but also in transferring technology and knowledge spillover from FDI to DI. The panel data regression was first to do to observe the differences between groups of relatively capital-intensive industrial samples and relatively labor-intensive industrial samples. The comparison results show that there are significant differences between the two industry groups so that it can be regressed on these two sample types, apart from the regression of the overall sample. The overall sample found that both FDI and DI influence the value-added of the manufacturing industry."

"Banyak penelitian telah menunjukkan efek positif dari investasi asing langsung (Inward FDI) pada pembangunan suatu negara. Namun, beberapa penelitian membantah dan menunjukkan efek sebaliknya. Dengan menggunakan sampel lima negara di Asia Tenggara (ASEAN) selama periode 1995-2005, makalah ini menganalisis faktor-faktor penentu kualitas institusional berdasarkan tiga indikator kualitas institusi yang terpisah yaitu: Rule of Law, Government Effectiveness, dan Regulatory Quality. Penelitian ini bertujuan untuk mengetahui peran investasi asing langsung (Inward FDI) terhadap kualitas kelembagaan suatu negara, khususnya di pasar negara berkembang. Oleh karena itu, random effect regressions dengan data sekunder telah diuji. Hasil penelitian menemukan bahwa penanaman modal asing secara parsial berpengaruh positif terhadap indikator- indikator yang digunakan di atas. Namun, beberapa determinan penting dikeluarkan dalam penelitian ini dan menjadi implikasi penelitian.

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Many studies have shown the positive effects of foreign direct investment on a country's development. However, some studies argue and show the opposite effect. Using a sample of five southeast Asia (ASEAN) countries over the period 1995-2005, the paper analyzes determinants of institutional quality based on three separate indicators of institutional quality: Rule of Law, Government Effectiveness, and Regulatory Quality. This research aims to investigate the role of foreign direct investments on a country's institutional quality, specifically in emerging markets. Therefore, random effect regressions with secondary data were run. The research found that foreign direct investments partially affect positively to indicators used above. However, some essential determinants were excluded in this research and became the research's implication."

"ABSTRAK Investasi asing langsung di industri pariwisata pada saat ini sedang berkembang, dimana hotel dan restoran adalah contoh yang sangat nyata, meskipun diskusi diantara investasi asing langsung dan pariwisata tidak begitu menjadi perhatian di studi-studi yang telah lampau dan suatu hal yang tidak mudah untuk menentukan dengan tepat tujuan dari pariwisata yang mengartikan investasi asing langsung. Skripsi ini mencoba untuk mempelajari hubungan diantara investasi asing langsung dan jumlah turis di Indonesia pada ruang lingkup yang kecil dan besar. Ruang lingkup yang kecil yang dimaksud adalah untuk melihat apakah adanya hubungan antara investasi asing langsung dan jumlah turis di setiap provinsi di Indonesia, sedangkan ruang lingkup yang besar adalah untuk melihat apakah adanya hubungan antara investasi asing langsung dari berbagai negara dan pariwisata dari negara yang sama. Skripsi ini menggunakan penelitian kuantitatif dengan sekunder data sebagai sumber utama, untuk jangka waktu tiga bulanan pada tahun 2011 ? 2013. Hasil dari regresi menunjukkan hubungan yang positif dalam jumlah turis di setiap provinsi di Indonesia maupun dari berbagai negara pada investasi asing langsung di Indonesia.

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ABSTRACT Foreign direct investment (FDI) in tourism industry is currently developing with hotel and restaurant as the most obvious examples, even though the discussion between FDI and tourism was not really much in the interest of past studies and not easy to determine exactly the objective of tourism that defines FDI. This thesis attempts to study the relationship between FDI and the number of tourists in Indonesia within the small and large scope. The small scope is to see whether there is a relationship between FDI and number of tourists in each province in Indonesia, whereas the large scope is the relation between FDI from a certain country and number of tourists from that same country. This thesis uses quantitative research with secondary data as the main source, for quarterly time period in 2011 ? 2013. The regression results indicate that the number of tourists both in each province in Indonesia and from a certain country positively related to the FDI in Indonesia."