The Government has announced that the state tax revenue as of June 2022 reached Rp868.3 trillion or grew by 55.7 percent with a realization of 58.5 percent of the annual target as stated in Presidential Regulation Number 98/2022.
“We hope that the growth will be consistent until the end of this year despite several notes from Minister of Finance. We must remain vigilant about the commodity price cycles and global economic developments,” Director General of Taxes Suryo Utomo said, Tuesday (08/02).
Based on major types of taxes, non-oil and gas income tax (PPh) contributed 69.4 percent to the total target or Rp519.6 trillion, the value-added tax (PPN) and the luxury tax (PPnBM) recorded a revenue of Rp300.9 trillion or 47.1 percent of the target, land and building tax (PBB) and other taxes contributed Rp4.8 trillion or 14.9 percent to the target, and oil and gas income tax recorded a revenue of Rp43 trillion or 66.6 percent of the target.
“There are several elements that contribute to the state revenue until the first semester of 2022,” he said.
Suryo further said that the excellent performance of tax revenue from January to June 2022 was affected by several factors such as the trend of increasing commodity prices, expansive economic growth and growing level of demand (domestic and overseas), a low base in 2021 due to incentives provision, and the impact of the implementation of the Law on Harmonization of Tax Regulations (UU HPP).
On that occasion, Suryo also pointed out that the growth performance was mainly supported by the high revenue of the implementation of Voluntary Disclosure Program (PPS) in June.
“For the upcoming semester, we estimate that the growth will still be quite consistent in line with the development of economic growth. As I and the Finance Minister have said earlier, we must remain vigilant about the growth and global economic situation because the economic factors will also bring impacts on tax revenues,” he said. (PR of Ministry of Finance/UN) (RIF/MMB)
The post Indonesia’s Tax Revenue Reaches Rp868.3 Trillion as of June 2022 appeared first on Sekretariat Kabinet Republik Indonesia.