Banggar Agrees That The Tax Revenue Target Will Increase To IDR 1,988.8 Trillion

The atmosphere of the DPR Banggar meeting with the government is related to the discussion of the 2024 State Budget Bill (Photo: Capture the DPR Youtube screen)

JAKARTA The government's proposal through the Minister of Finance (Menkeu) Sri Mulyani related to the increase in the 2024 tax revenue target to Rp1,988.8 trillion has been approved by the DPR's Budget Agency (Banggar).

This commitment emerged in the first level of discussion on the 2024 State Budget Bill (RUU) which was held today, Tuesday, September 19 at the Senayan Parliament Complex, Jakarta.

Chairman of the DPR Budget Agency Said Abdullah, who led the agenda, symbolically asked for approval from the meeting participants who were present as a sign to proceed to level II talks or the DPR Plenary Meeting.

"Can the first level agreement on the discussion of the 2024 State Budget Bill be approved?" Said said, which was then answered in agreement by the participants.

According to VOI records, the new tax revenue target rose by IDR 2 trillion from the previous IDR 1,986.9 trillion, as proposed by President Joko Widodo on August 16.

Meanwhile, the projected growth of tax revenues is mainly supported by value added tax (VAT) and land and building taxes (PBB).

To note, tax revenues are one of three revenue instruments that support state revenues. Another instrument is customs revenue and targeted excise of IDR 321 trillion.

This tax revenue and customs and excise revenue is often referred to as tax revenue.

While the third instrument is Non-Tax State Revenue or PNBP which next year is expected to collect IDR 492 trillion. Just so you know, PNBP also experienced an increase in the target of IDR 19 trillion from the initial IDR 473 trillion.

As a result, the total state revenue in 2024 was designed at IDR 2,802.3 trillion. This figure is much higher than the 2023 State Budget which amounted to IDR 2,463 trillion.