Ministry Of Finance: Tax Revenue Until August IDR 1,246.9 Trillion

Illustration (Photo: Doc. Antara)

JAKARTA - The Ministry of Finance (Kemenkeu) confirmed that tax revenues until August 2023 amounted to Rp1,246.9 trillion. This figure is up 6.4 percent when compared to the same period in 2022 (year on year/yoy).

Minister of Finance (Menkeu) Sri Mulyani said that the realization was equivalent to 72.5 percent of the ceiling in the 2023 State Budget of IDR 1,718 trillion.

"The tax revenue from January to August is positive, supported by good economic performance," he told reporters via virtual channels on Wednesday, September 20.

The Minister of Finance explained that the performance of tax revenues was supported by four sectors. First, income tax or non-oil and gas income tax which grew 7.06 percent yoy to Rp708.2 trillion.

Second, Value Added Tax (VAT) and Luxury Goods Sales Tax (PPnBM) amounting to IDR 447.5 trillion, grew 8.14 percent yoy.

Third, Land and Building Tax (VAT) and other taxes that fell minus 12.01 percent yoy to Rp11.6 trillion. The fourth is oil and gas income tax which fell minus 10.58 percent to Rp49.5 trillion.

"PBB and other taxes contracted due to the shift in PBB payments. Meanwhile, the oil and gas tax is due to the impact of oil price moderation," he said.

The Minister of Finance added that the government found that the performance of tax revenues was slowing compared to the previous year, mainly due to a significant decline in commodity prices. In addition, it is also influenced by the decline in import value, as well as the non-recurrence of the Voluntary Disclosure Program or PPS.

"In the future, tax revenues will follow macroeconomic variables, especially commodity prices, domestic consumption, government spending, to other variables," closed the Minister of Finance Sri Mulyani.