Sri Mulyani: Indonesian Tax Revenues Reaches Rp1.109,1 T

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 14 Agustus 2023
Category: News
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President Jokowi visited the Surakarta Tax Service Office in Central Java province, Thursday (03/09) (Photo by: BPMI of Presidential Secretariat)

As of the end of July this year, tax revenue performance is still growing even though the growth rate is on normalization, Minister of Finance Sri Mulyani has said.

“Due to various factors, namely normalization of commodity prices and slowing global economic growth has affected several performances such as exports and domestic activities,” Sri Mulyani said, as quoted from the Ministry’s official website, Monday (08/14).

As of the end of last month, according to the Minister, state revenue from taxes reached Rp1,109.1 trillion or 64.6 percent of the 2023 State Budget target or grew by 7.8 percent YoY.

In detail, Non-Oil and Gas Income Tax revenue was recorded at Rp636.56 trillion or 72.86 percent of the target (+6.98 percent YoY), Value Added Tax (VAT) and Luxury Goods Sales Tax (PPnBM) revenue was recorded at Rp417.64 trillion or 56.21 percent of the target (+10.60 percent YoY), Land and Building Tax (PBB) and other taxes revenue was recorded at Rp9.60 trillion or 23.99 percent of the target (+44.76 percent YoY) but Oil and Gas Income Tax revenue was recorded at Rp45.31 trillion or 73.74 percent of the target (-7.99 percent YoY).

“The growth in tax revenues is not expected to be as high as last year but is still managed to grow positively,” Sri Mulyani said, adding that this is a decent thing despite month-to-month tax revenues in June and July have decreased.

Furthermore, Customs and Excise revenue reached Rp149.83 trillion or 49.40 percent of the target (-19.07 percent YoY). Export Duty revenues also experienced a sharp decline of 81.3 percent due to the low price of crude palm oil, the impact of the 2022 flush out policy, and the decline in the volume of mineral exports.

“Nevertheless, the custom still recorded positive growth to 3.82 percent from Import Duty due to increased effective tariffs and the US dollar exchange rate has strengthened so that it can compensate for the decline in the base,” she said.

Meanwhile, the realization of Non-Tax State Revenue (PNBP) until the end of last month reached Rp355.5 trillion or 80.6 percent of the APBN target (+ 5.4 percent YoY).

“The State Budget, with maintained economic activity, still shows positive performance. State revenues still grow despite moderation and spending that we intend to keep according to quality and plans,” Sri Mulyani remarked. (PR of Ministry of Finance/UN) (GWH/LW)

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