The government will rely on income tax to increase tax revenue this year
JAKARTA. The government will rely on income tax (PPh) to increase tax revenue, following positive realization during the period of January-August 2020.
The government recorded that at the end of August 2020, revenue from individual income tax (OP) had grew by 2.46% (yoy) to Rp9.12 trillion.
Meanwhile, at the end of the second quarter of 2020, it grew by 36.04% (month to month = mtm). It also showed positive growth in July and August (11.54% mtm and 3.56% mtm).
Minister of Finance Sri Mulyani Indrawati said that individual income tax rebounded in the second quarter of 2020 due to a shift in the payment of annual income tax. (AM/AR)