Tax Revenue Rises by 16,21% in QI 2018
Date 17 April 2018
The increase was sustained by the growth of Value Added Tax by 15.03 percent (yoy) and Non-Oil Income Tax (PPh) by 8.36 percent (yoy).
Directorate General of Budget Financing and Risk Management of Ministry of Finance in a press release on Monday (16/4) stated that the voluntary compliance level after Tax Amnesty program has increased, indicated by the increase of the number of individual taxpayer who pay Income Tax (Article 29 Income Tax in March 2018 and 1 percent Final Income Tax) in the first quarter of 2018, each at 15.99 percent and 16.02 percent (yoy) respectively.
The press release also stated the rising of Tax Revenue was also followed by Customs and Excise revenue and the realization of Customs and Excise revenue in the first quarter of 2018 is Rp17.89 trillion, rising by 15.84 percent compared to that in the same period last year.
“This is the highest achievement in the last three years and occurs in all components of revenue, namely Import Duty, Export Duty and Excise,” Directorate General of Budget Financing and Risk Management of Ministry of Finance wrote.
Also according to the press release, revenues from import duty reached Rp8.41 trillion or rising by 9.55 percent over the same period last year (yoy), following the increase of imported foreign exchange which rising by 13.27 percent during Q1 / 2018.In the meantime, the increase of imported foreign exchange was dominated by the increase in productive imports such as raw and auxiliary materials (15.68 percent), and capital goods (16.28 percent).
Moreover, revenue of export duty rose by 70.38 percent (yoy), the highest in the last four years, mainly from minerals and ore at 39.68 percent (yoy).
Furthermore, excise revenue reached Rp8, 05 trillion, rising by 16.20 percent (yoy) compared to that in the same period last year. “The excise revenue is affected by tariff increase, policy of consumption control and negative external effects,” said the Director General in the press release.
Rising global commodity prices also affected the realization of Non-Tax State Revenue that reached Rp71.09 trillion or rising by 22.16 percent (yoy) compared to that in the same period in 2017. (PR of Ministry of Finance/ ES) (STU/EP/Naster)