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This study aims to evaluate the effectiveness of the implementation of Income Tax Article 25 (PPh 25) in increasing state tax revenue and reducing the tax burden on taxpayers. PPh 25 is a mechanism for periodic tax installment payments made by taxpayers based on estimated tax liabilities. This research adopts a descriptive quantitative approach using secondary data obtained from the Directorate General of Taxes’ reports, supported by questionnaires distributed to taxpayers within a specific Tax Service Office (KPP) area. The results show that the implementation of PPh 25 contributes significantly to tax revenue by encouraging taxpayer compliance and ensuring a stable cash flow for the state. Additionally, the installment system of PPh 25 helps reduce the annual tax burden on taxpayers both psychologically and administratively, as obligations are paid in stages. However, challenges remain in the accuracy of estimating tax liabilities, which can lead to overpayment or underpayment. Therefore, more intensive socialization and technical guidance are needed to improve taxpayers’ understanding and compliance with the PPh 25 mechanism.

This research examines the implementation of social welfare through social assistance funds in Indonesia during the Covid-19 pandemic within the framework of the welfare state theory. Using a normative juridical approach with a descriptive-normative character, the study analyzes the legal foundations, the theory of justice, and utilitarianism as conceptual bases. Two approaches Statute Approach and Conceptual Approach are employed to review key regulations (Law No. 13/2011, Law No. 11/2009, Government Regulation No. 39/2012, and other implementing regulations) as well as the concepts of distributive justice, utility, and the capability principle. Secondary data consists of primary, secondary, and tertiary legal materials collected through literature study and qualitatively analyzed. The findings reveal that programs such as Direct Cash Assistance (BLT), the Family Hope Program (PKH), and the Staple Food Card (Kartu Sembako) represent state interventions aimed at correcting inequality and ensuring citizens’ social rights. The application of the principles of social justice, utility, transparancy, accountability, participation, and sustainability has strengthened the legitimacy of social assistance as a redistributive instrument. However, the main challenges lie in the accuracy of the Integrated Social Welfare Data (DTKS), overlapping recipients, limited public participation, and long-term planning that remains reactive to crises. Evaluation of alignment with welfare state principles reveals that social assistance interventions have helped reduce short-term economic burdens but are not yet optimal in empowering recipients toward self-reliance. Based on these findings, it is recommended to regularly update the DTKS, enhance digitalization and data transparancy, expand participatory mechanisms, and integrate social assistance policies into long-term national development strategies. Thus, social assistance funds can serve not only as emergency aid but also as sustainable instruments to realize social justice and inclusive growth.

MSME actors in Indonesia still face various obstacles in business management, especially in the aspects of marketing and financial bookkeeping. This condition has a direct impact on the low level of bankability of MSMEs to access financing from banking institutions, especially Islamic banks. This activity aims to provide assistance to MSME actors, especially Toko Cipta Swara Elektronik, to be able to prepare basic financial statements and implement simple digital marketing strategies. The method used in this activity is the ABCD (Audience, Behavior, Condition, Degree) approach, with the implementation in the form of lectures, discussions, hands-on practice, and simulations. The results of the activity show that partners are able to prepare two types of basic financial statements (cash flow and profit and loss), design digital marketing strategies through social media, and understand the requirements for applying for Islamic bank financing. This assistance has proven to be effective in increasing the capacity of partners administratively and strategically, as well as opening up greater opportunities to access sharia financing services.

The rapid advancement of digital technology has led to significant changes in how people conduct financial transactions, particularly the shift from cash payments to digital methods that are viewed as more efficient, faster, and safer. This study aims to analyze differences in the frequency of using three types of financial transactions cash, e-wallets, and bank transfers in daily life. A quantitative descriptive-comparative approach was applied, involving 47 respondents selected through purposive sampling. The instruments were tested for validity and reliability before analysis. Data were examined using the Friedman test to assess differences in usage frequency among the three methods. The findings show a significant difference in frequency, with e-wallets being the most used, followed by bank transfers, and then cash. These results suggest that people now prioritize convenience, speed, and accessibility in financial activities. The implications highlight the need for financial institutions and payment providers to enhance digital security systems and improve service accessibility. Small business operators are encouraged to adapt to changing consumer preferences that increasingly favor digital payments. Furthermore, improving digital financial literacy is essential to support broader financial inclusion. This study also provides recommendations for policymakers to expand access to digital financial services, especially for underserved communities.

This study wasconducted in dunggala village, tibawa subdistrict, gorontalo regency. The objective Is to determine the effect of clash social assistance (BST) on the consumer behavior of the comunity in dungala vilage. This study employed a quantitative aproach. Data were collected thourgh observation, interviews , questionnaires, and documention. The population consisted of 98 individuals, with a sample of respondents. The date were analyzed using simple linier regresion. The results indicate that cash social assistance (BST)affects the consumer behavior of the comunty in dunggala vilage. Based on the cofficient of the determination (R square), a value of 0, 326 was obtained, indicating that 67,4% of the variabilty in consumer behavior can be explained by the cash social assistance variable, while the remaning 6,74% is affected by other variabels not examined in this study.  

This research aims to deeply understand the legal differences between zakat and waqf from the perspective of contemporary fiqh, as well as to analyze their relevance and application in the context of modern social, economic, and technological settings. This research uses a comparative analysis method with a descriptive qualitative approach based on literature study. The sources examined include classical fiqh literature from the four schools of thought, contemporary scholars' views, as well as modern regulations and fatwas related to zakat and waqf in Indonesia. The research findings indicate that although zakat and waqf have fundamental differences in legal status, form, and purpose of utilization, both share a common spirit of wealth distribution and community empowerment. Moreover, contemporary issues such as professional zakat, corporate zakat, stock zakat, cash waqf, productive waqf, and digitalization highlight the need for institutional renewal and strengthening to ensure that the laws of zakat and waqf remain relevant and effective in the modern era. This research concludes that understanding and managing zakat and waqf in an adaptive manner to the times is very important in realizing sustainable community welfare.

This study aims to describe the success strategy of the Dodol Deli business, an MSME that has existed since 1988 in Pasar Bengkel, Serdang Bedagai Regency. This business is an example of traditional business resilience in the face of various economic challenges, ranging from the 1998 monetary crisis, road infrastructure development, to the COVID-19 pandemic. This research uses a descriptive qualitative method with a case study approach, through direct interviews with business owners. The results show that the success of Dodol Deli is influenced by strong entrepreneurial character, product innovation, efficient production management, and adaptive marketing strategies, including the utilization of social media. In addition, the decision not to use preservatives and not to rely on modern retail systems is an added value in maintaining product authenticity and customer loyalty. Dodol Deli also demonstrates healthy self-financing practices and receives support through non-cash assistance from the government. These findings reinforce the importance of a combination of local values, business independence, and technological adaptation as keys to MSME sustainability.

The development of the digital ecosystem has disrupted the transportation sector. Traditional transportation businesses have shifted to online transportation. This study aims to analyze Blue Bird's strategy in facing the ride-hailing disruption in Indonesia. The research was conducted using a descriptive qualitative approach. The data was sourced from digital searches and observations. The results show that the digital transformation implemented by PT Blue Bird Tbk has improved operational efficiency and competitiveness in the highly competitive transportation market. The My Blue Bird application, with real-time tracking and cashless payment features, has streamlined the booking process and strengthened customer loyalty. The data indicates an increase in app usage and a reduction in operational costs, supporting the effectiveness of the company's digital strategy. Strategic collaboration with ride-hailing platforms has also significantly contributed to market expansion and increased fleet occupancy. The success of this strategy is reflected in the rise in booking volume and overall customer satisfaction. As a further step that has not been fully implemented, it is recommended that Blue Bird explore the application of AI-based predictive models to optimize fleet scheduling and route dynamics. The use of this technology can provide more accurate demand forecasts and support strategic decision-making in resource allocation. Additionally, the development of a customer feedback system integrated with digital analytics will allow the company to respond to consumer trends and preferences more effectively. These measures, supported by enhanced digital infrastructure and cross-sector collaboration, are expected to further boost Blue Bird's efficiency and growth in the digital disruption era.

Cash management is one of the most crucial aspects of financial management in a company, serving to maintain liquidity, optimize fund utilization, and ensure smooth operations. This study aims to analyze effective strategies and techniques in cash management to improve financial efficiency in a business entity. The method used is a literature review with a qualitative descriptive approach. The results show that proper cash management through cash flow planning, expenditure control, and the utilization of cash surpluses can help companies avoid liquidity issues and increase profitability. Therefore, efficient cash management is essential to support the long-term stability and growth of a company.

This study explores the strategies and effectiveness of the recovery of Micro, Small, and Medium Enterprises (MSMEs) in Medan City following the COVID-19 pandemic. By reviewing recent scholarly articles, it examines the roles of government policies, digital transformation, product diversification, and multi-stakeholder collaboration in supporting MSME sustainability. The review findings show that economic stimulus policies such as cash assistance, credit relaxation, and digital training significantly impact the resilience and growth of MSMEs. Moreover, MSMEs' adaptation to technology and the role of communities further strengthen local economic resilience. This study contributes to the literature on regional economic recovery and serves as a foundation for data-driven policy-making.

Technology sector companies are known for rapid innovation but also face high uncertainty, which is likely to cause financial distress. In Indonesia, several technology firms publicly traded on the Indonesia Stock Exchange (IDX) experienced declining profitability and negative operating cash flows during the 2021–2023 period. The aim of this research is to examine the influence of profitability and operating cash flow on financial distress, with firm value as an intervening variable. The research addresses inconsistencies in financial indicators—declining profits do not always indicate financial distress, especially when firm value is not taken into account. Using secondary data from annual reports and the Investing website, this study makes use of a quantitative method involving path analysis. A purposive sampling technique resulted in 78 firm-year observations. Data analysis was carried out using SPSS software. It was found that both firm value is positively and significantly affected by profitability and operating cash flow. However, only operating cash flow and firm value have a statistically significant positive relationship with financial distress, unlike profitability. Furthermore, firm value does not mediate the relationship between profitability and financial distress but does mediate the relationship between operating cash flow and financial distress. These findings suggest that operating cash flow is a more reliable indicator than profitability in predicting financial distress and emphasize the mediating role of firm value in financial instability.

Zakat and waqf are two essential instruments in Islamic teachings that hold great potential in supporting philanthropic activities and social development. This study aims to understand the various types of zakat an   d waqf and how their management can be effectively integrated into modern philanthropic practices. Using a qualitative approach with literature review methods, this research explores the concepts, types, and management practices of zakat and waqf in socio-religious and economic contexts. The findings indicate that zakat includes several types such as zakat fitrah, zakat mal, and professional zakat, while waqf comprises productive waqf, cash waqf, and fixed asset waqf. In philanthropic management, both instruments require professional, transparent, and accountable governance to maximize their social impact. The integration of zakat and waqf into modern philanthropic systems not only strengthens the role of religious institutions but also contributes to poverty alleviation and sustainable development.

Murabahah, salam, and istishna' are types of sale and purchase transactions that have conceptually been recognized and applied as contract options in Islamic financial institution products. The National Sharia Council of the Indonesian Ulema Council (DSN-MUI), as the authority in issuing Islamic economic and financial fatwas, has issued rulings concerning these three types of transactions, in which various hadiths on legal rulings (ahkam muamalah) are cited as the basis. This paper aims to examine these hadiths from the DSN-MUI fatwas on murâbahah, salam, and istishna' through two perspectives: the analysis of authenticity (takhrij hadith) and the interpretation of substance (meaning analysis). The results indicate that these hadiths broadly cover key principles of sharia contracts such as mutual consent (ar-ridha), permissibility (al-ibâhah), and public interest (al-mashlahah); the notion of blessings in non-cash transactions (classified as weak hadith majhul category); prohibition of debt payment delays by those able to pay; and the permissibility of salam transactions and down payments (classified as weak hadith mursal category).

This study aims to evaluate the effectiveness of the National Cash Social Assistance (BST) policy on the purchasing power of communities in Surabaya. BST is a social protection program launched by the Indonesian government in response to the economic impact of the COVID-19 pandemic. The policy targets low-income and vulnerable groups through direct cash transfers, with the goal of maintaining basic consumption levels and preventing a sharp decline in household welfare. This research examines the extent to which the BST program has achieved its objectives, particularly in enhancing or sustaining the purchasing power of its beneficiaries in urban settings. The study employs an evaluative approach using a mixed-methods design, combining quantitative survey data with qualitative interviews involving aid recipients and local-level implementers. The findings indicate that the BST program had a positive short-term impact on household purchasing power, particularly in meeting essential needs such as food and utility expenses. However, several implementation challenges were also identified, including issues of inaccurate beneficiary targeting, delays in distribution, and the relatively small amount of assistance compared to actual household need. These results highlight that the effectiveness of social policy is not solely dependent on budget allocation but also on the precision of its implementation on the ground. Consequently, the study recommends improvements in beneficiary data updating, enhanced transparency in aid distribution, and the development of more adaptive program designs that reflect local socio-economic conditions. The findings are expected to serve as a valuable reference for policymakers in designing more efficient and sustainable social assistance programs in the future.  

Studi ini bertujuan untuk menelaah kinerja produk pembiayaan di BPRS BAS Purwokerto menggunakan pendekatan Matriks Boston Consulting Group (BCG). Produk yang dianalisis meliputi Murabahah, Multijasa, Qardh, Sewa, Mudharabah, dan Musyarakah. Berdasarkan hasil analisis, produk Murabahah dan Multijasa berada pada kuadran Stars, menandakan pangsa pasar besar dan pertumbuhan tinggi. Produk Sewa menempati kuadran Cash Cows dengan pangsa pasar besar namun pertumbuhan rendah. Sementara itu, produk Istishna, Qardh, Mudharabah, dan Musyarakah terletak di kuadran Dogs, yang mengindikasikan mempunyai pangsa pasar terbatas serta laju pertumbuhan yang rendah.. Strategi untuk diusulkan meliputi perluasan pasar untuk Stars, optimalisasi operasional untuk Cash Cows, serta evaluasi dan inovasi produk pada Dogs.

This study aims to analyze the role of the Quick Response Code Indonesian Standard (QRIS) as a key driver in the development of Financial Technology (Fintech) that contributes to increasing financial inclusion in Indonesia. Using qualitative methods through a descriptive approach, this study focuses on exploring and understanding phenomena related to QRIS implementation and its impact on the national digital financial ecosystem. Research data was obtained through literature studies from various relevant primary and secondary sources, thus providing a strong theoretical and practical foundation. The results show that QRIS functions as a link between cross-platform digital payment ecosystems, enabling interconnection between service providers, and facilitating non-cash transaction processes in a faster, safer, and more efficient manner. Furthermore, QRIS not only supports the development of financial technology in urban areas but also expands the reach of digital financial services to remote areas that were previously difficult to access by conventional banking services. Thus, QRIS plays a significant role in encouraging public participation in the formal financial system and helping achieve the national financial inclusion targets set by the government. This study concludes that QRIS is a strategic instrument in strengthening the foundation of Indonesia's digital economic transformation. Increasing financial inclusion not only impacts equitable access to financial services but also contributes to more inclusive and sustainable economic growth. These findings illustrate that QRIS is a technological policy innovation with strategic value, not only as a transaction tool but also as a driving force for digital financial integration in the era of national economic transformation. QRIS is a strategic tool in realizing national financial inclusion targets and supporting the vision of transformation towards Indonesia's digital economy.

The purpose of Community Service (PKM) is to improve the understanding and ability of business owners and crew members (ABK) in conducting simple and applicable financial analysis. This activity will be carried out in Laha Village, Ambon City, in May 2025 with the main target of the Arumbae ship fishing business actors and their crews. This PKM is carried out in three main stages, namely: the preparation stage, the implementation stage, and the monitoring and evaluation stage. In the preparation stage, an initial approach is made to ship owners and crew members to establish communication and identify specific needs related to understanding and skills in financial analysis. The implementation phase includes training activities that are designed in a participatory and applicable manner, using Microsoft Excel software as the main tool in calculating and analyzing the feasibility of the business. The training material includes business feasibility analysis techniques, cash management, simple financial recording, and profit and loss projections. The benefits felt by the participants were very significant. Business owners now have a better understanding of the importance of financial management, and can prepare a business feasibility analysis independently. They also show an improvement in the ability to prepare simple financial statements, as well as being motivated to develop fishing ventures to a larger and more sustainable scale. Monitoring shows a noticeable increase in understanding and skills after training. This activity also has a positive impact on building an orderly and disciplined financial recording culture, which has not previously been a habit among fishermen. In the future, it is hoped that this training can be replicated to other fishermen groups in the coastal area of Maluku to expand the impact. The conclusion of this activity shows that an educational and practical approach is able to encourage the increase of fishermen's capacity in the financial aspect of business. This activity also opens up opportunities for the development of fishing businesses professionally and oriented towards the sustainability of the local economy.

Kindang Village is one of the villages that has quite large potential for home industries, but still faces challenges in effective business financial management. This community service activity aims to increase the competitiveness of home industries through training and mentoring in sustainable business financial management. The implementation method includes socialization, simple financial management training, financial record keeping, and intensive mentoring for three months. The results of the activity show an increase in business actors' understanding of the importance of financial records and business planning, as well as changes in behavior in managing cash flow and determining product selling prices. This program has succeeded in building financial awareness and increasing the efficiency of business management, which has an impact on increasing the competitiveness of home industries in Kindang Village.

Bankruptcy regulations in Indonesia, particularly in Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations, are often contentious due to the absence of strict limitations on the filing of bankruptcy petitions. This has the potential to ensnare debtors who are still financially solvent, overriding the principle that bankruptcy should be the last resort in debt settlement.  Law Number 37 Year 2004 on Bankruptcy and Suspension of Debt Payment Obligations only requires the existence of two creditors with debts that are due and collectible through simple proof. This study aims to analyze in depth the legal arrangements and determination of insolvency in Law Number 37 of 2004. By using a normative juridical research method, as well as a statute approach that focuses on Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations and other related regulations, secondary data will be collected through literature studies. Insolvency is defined as a condition where the debtor's total debt to all creditors exceeds the value of all its assets, otherwise known as a state of inability to pay. In Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations, the term "insolvency" differs from commonly used terms, such as balance sheet insolvency, which means debts exceeding assets, or cash flow insolvency, which means the inability to pay debts due to liquidity.  Unlike the practice in the common law system, the determination of insolvency in Indonesia does not involve mandatory financial audits or court decisions based on independent financial analysis.

This study analyzes the effect of sales growth and capital intensity on operating cash flow at PT Sumber Alfaria Trijaya, Tbk during the 2013–2024 period. The research problem raised is whether sales growth and capital intensity have a significant effect on the company's operating cash flow. The purpose of this study is to prove the relationship between these two independent variables and operating cash flow, thus providing a basis for managerial decision-making in Indonesian retail companies. The data used in this study are secondary data in the form of annual financial statements of PT Sumber Alfaria Trijaya, Tbk over the last eleven years. The method used is a quantitative approach with regression analysis, preceded by classical assumption tests including normality, multicollinearity, heteroscedasticity, and autocorrelation tests to ensure the validity of the regression model. The results show that the residuals are normally distributed, the regression model is free from multicollinearity and heteroscedasticity, but there is positive autocorrelation in the residuals. Simultaneously, sales growth and capital intensity are proven to have a significant effect on the company's operating cash flow. These findings emphasize the importance of efficient management of sales growth and capital intensity in maintaining the stability of operating cash flow.