Sri Mulyani said tax revenue reached 88.3 percent of the target

Jakarta, The Indonesia Post – Finance Minister Sri Mulyani Indrawati said that tax revenues during January-September 2022 reached Rp. 1,310.5 trillion or 88.3 percent of the target of the 2022 State Budget (APBN).

“Our tax revenues are still quite strong or grew 54.2 percent from January to September 2022 or reached Rp1,310.5 trillion,” he said in an online press conference for the State Budget KiTa, Friday.

He detailed that Non-Oil and Gas Income Tax (PPh) receipts had reached IDR 723.3 trillion during January-September 2022 or reached 96.6 percent of the Non-Oil and Gas PPh revenue target in Presidential Regulation No. 98 of 2022 concerning Details of the 2022 State Budget.

“This means that the Non-Oil and Gas PPh will definitely reach or exceed the target in 2022,” he added.

Revenues from Value Added Tax (PPN) and Sales Tax on Luxury Goods (PPnBM) which have reached Rp504.5 trillion or reached 78.9 percent of the target will continue to be accelerated so that they have the potential to reach the target.

Meanwhile, revenue from Land and Building Tax (PBB) and other taxes has reached Rp. 20.4 trillion, while PPh Oil and Gas has reached Rp. 62.3 trillion or 96.4 percent of the target.

“So if you look at the percentage of achievements, it seems that tax revenues will exceed the target in Presidential Regulation No. 98 of 2022,” he said.

Tax revenue growth is still supported by rising commodity prices, economic activity that is still stretching, the implementation of the Tax Regulations Harmonization Law (UU HPP), and 2021 tax revenues as a low basis for comparison.

As for tax revenues in September 2022 alone, it grew 28 percent on an annual basis or decreased compared to the previous 4 months, where in May 2022 tax revenues grew 63 percent (yoy), in June grew 80 percent (yoy), in July 62 percent (yoy), and in August 53 percent (yoy).

“This growth of 28 percent on an annual basis is actually still high, but compared to the last 4 months, this growth is very low and we need to be aware of the trend,” he said. (mhn/bbs)