Sri Mulyani: Tax Revenue Grows 59.39 Percent as Economy Recovers

Photo by: PR of Ministry of Finance

Tax revenue in January 2022 grew by 59.39 percent amounting to Rp109.1 trillion, Minister of Finance Sri Mulyani Indrawati has announced.

“This January, Rp109.1 trillion of tax revenue was collected. This is an excellent achievement. A dramatically high increase in tax revenue is certainly something that we must be grateful for, but it is also something that we must be careful of,” Sri Mulyani said during the press conference of State Budget Performance and Facts of February 2022 edition, Tuesday (02/22).

Sri Mulyani also pointed out that the tax revenue consists of non-oil and gas income tax with Rp61.14 trillion, which saw a 56.7 percent growth; value-added tax and sales tax on luxury goods with Rp38.43 trillion, which rose by 45.86 percent; and oil and gas income tax with Rp8.95 trillion due to oil and gas price increase, which soared to 281.2 percent.

Based on the types of tax, income tax Article 21 (PPh 21) contributed 16.7 percent, growing by 26.9 percent, she added.

According to Sri Mulyani, the increase indicates improvement of workforce utilization, which can be seen from the decreasing number of unemployment and payment of year-end bonus to employees.

“Another interesting aspect of this tax story is that institutional income tax, once again, these are corporates, contributed 13 percent to our tax revenue. And if corporates are recovering, we hope our economy is also getting stronger,” she remarked. (PR of Ministry of Finance/UN) (DH/EP)