Tax revenue hit 44.88% of target, reaching IDR 567.69 trillion
JAKARTA. The tax revenue has grown remarkably by 51.49% by April 2022, scoring IDR 567.69 trillion. Said amount covers 44.88% of the target set in the 2022 State Budget. The visible increase in tax revenue is not only due to the commodity price surge but also the low base point recorded last year.
Sri Mulyani Indrawati, the Minister of Finance, confirmed that tax revenue throughout January to April 2022 had amounted to IDR 567.69 trillion. It comprises revenue from income tax of non-oil and gas sector of IDR 342.48 trillion, value-added tax (VAT) and luxury goods tax of IDR 192.12 trillion, and the oil and gas sector’s income tax of IDR 30.6 trillion. Furthermore, there were also property tax and other taxes of IDR 2.43 trillion.
The tax revenue collected in April 2022 showed rapid increase in comparison to last month. It was IDR 245.2 trillion higher than the tax revenue in March 2022, which recorded growth of only IDR 123 trillion. This jump resulted from the annual corporate income tax that was deposited timely according to the deadline of annual tax return.
According to Mulyani, the commodity price surge is the factor that generally affected tax revenue in these past four months. This factor then amplified the aftermath of domestic demands. “The tax revenue proliferated partly because of [the price surge of] commodities. Other factors are the economic recovery trend, expansive economic growth, and domestic demands that continue to improve,” she explained during the Performance and Facts of the State Budget press conference yesterday (23/5). (AM/ZH)