Insentif Pajak terhadap Pembiayaan Usaha Baru pada Startup: A Systematic Literature Review

Anggia Marshanda Putri; Muhammad Ario Permadi; Mukhtaruddin

doi:10.47709/jebma.v6i1.8118

Penulis

Anggia Marshanda Putri Program Studi Magister Ilmu Akuntansi,Universitas Sriwijaya
Muhammad Ario Permadi Program Studi Magister Ilmu Akuntansi,Universitas Sriwijaya
Mukhtaruddin Program Studi Magister Ilmu Akuntansi,Universitas Sriwijaya

DOI:

https://doi.org/10.47709/jebma.v6i1.8118

Kata Kunci:

Insentif Pajak, Pembiayaan Usaha Baru, Startup, Signaling Theory

Abstrak

Latar belakang: Pertumbuhan startup menghadapi tantangan pembiayaan yang signifikan pada tahap awal akibat keterbatasan arus kas, minimnya aset, serta tingginya persepsi risiko dari investor. Untuk mengurangi hambatan tersebut dan memperkuat ekosistem kewirausahaan, pemerintah memanfaatkan kebijakan insentif pajak sebagai instrumen fiskal yang strategis. Dalam konteks ini, penting untuk memahami bagaimana insentif pajak berperan dalam pembiayaan usaha baru, khususnya melalui perspektif Signaling Theory.

Metode: Penelitian ini menggunakan pendekatan kualitatif deskriptif dengan metode Systematic Literature Review (SLR). Sebanyak 40 artikel ilmiah bereputasi yang diterbitkan pada periode 2020–2026 dianalisis secara sistematis dengan mengikuti protokol PRISMA. Proses seleksi dilakukan melalui identifikasi, penyaringan, kelayakan, dan inklusi artikel yang relevan dengan topik insentif pajak dan pembiayaan startup.

Hasil: Hasil kajian menunjukkan bahwa insentif pajak memiliki fungsi multidimensional dalam pembiayaan usaha baru. Pertama, insentif pajak meningkatkan arus kas internal serta memperluas akses terhadap pembiayaan eksternal. Kedua, insentif pajak memengaruhi struktur permodalan dan strategi investasi venture capital. Ketiga, insentif pajak berperan sebagai sinyal publik yang kredibel, sehingga mampu menurunkan persepsi risiko investor dan meningkatkan legitimasi startup di mata pasar. Temuan ini memperluas Signaling Theory dengan menekankan pentingnya sinyal publik melalui kebijakan fiskal pemerintah.

Kesimpulan: Efektivitas insentif pajak dalam mendukung pembiayaan startup tidak hanya ditentukan oleh besaran insentif yang diberikan, tetapi juga oleh desain kebijakan yang kredibel dan terintegrasi dengan ekosistem kewirausahaan secara menyeluruh.

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