No Medicine For Tax Revenue! Just May It Was IDR 830 Trillion, Growing 17 Percent

Illustration (Photo: Doc. Antara)

JAKARTA Tax revenues are still showing a steady performance by posting IDR 830.2 trillion at the end of May 2023.

Minister of Finance (Menkeu) Sri Mulyani said the score increased by 17.7 percent on an annual basis (year on year/yoy) compared to May 2022 which was only IDR 705.5 trillion.

"Tax revenues still grow positively even though there is a slowdown. Until last month, Rp830.2 trillion was collected or equivalent to 48.3 percent of the APBN target of Rp1,718 trillion," he said during a press conference today, Monday, June 26.

The Minister of Finance explained that this tax revenue was collected from four sectors. The first non-oil and gas income tax (PPh) collected was IDR 486.9 trillion.

Second, value added tax (VAT) and sales tax on luxury goods (PPnBM) amounting to IDR 300.6 trillion. Third, land and building taxes (PBB) along with other taxes of IDR 5.7 trillion. Then the fourth is oil and gas income tax of IDR 36.9 trillion.

"Tax revenue from January to May 2023 still grows positively double digits, especially supported by good economic activity in the first quarter of 2023," he said.

The Minister of Finance added that although it was classified as a positive achievement, tax revenues were recorded to have experienced a slowdown due to lower commodity prices and slowdown in imports.

In the future, tax revenues will be moderated due to the policy of the Voluntary Disclosure Program (PPS) which will not be repeated. At the same time, tax revenues will also follow fluctuations in consumption, government spending, imports, and commodity prices, "said the state treasurer.