Economic Review As Of February 2021: Tax Realization Reaches IDR144.9 Trillion, PPnBM Grows Positively

JAKARTA - PT Bank Mandiri Tbk. released a summary of economic activity until the period February 2021 in its report entitled the Daily Economic Review.

From the information disclosed on Friday, March 19 on the official website, it was stated that the performance of Value Added Tax (VAT) and Sales Tax on Luxury Goods (PPnBM) grew by 3.46 percent on an annual basis or year-on-year compared to the February 2020 period. .

It is recorded that PPN and PPnBM revenues up to the end of last month reached Rp. 58.12 trillion, or an increase from the same period in the previous year which amounted to Rp. 56.18 trillion.

In terms of the realization of tax revenues in the first two months of 2021, it is said to reach IDR144.93 trillion. This booklet is lower than February 2020 amounting to IDR153.57 trillion. The decline of 5.62 percent was allegedly due to conditions before the pandemic at the beginning of last year.

Furthermore, apart from PPN and PPnBM, tax revenues from the category of Land and Building Tax (PBB) and other taxes increased by 24.98 percent to Rp1.70 trillion.

Meanwhile, the National Economic Recovery program or PEN has begun to target several key sectors to increase demand, such as the implementation of zero percent PPnBM incentive stimulus for the automotive sector.

In addition, the state, through the Ministry of Finance, also provides VAT incentives to be borne by the government for the residential property sector.

Meanwhile, from the performance of the Mandiri Spending Index (MSI), it shows that public spending has improved in early 2021.

It was said that the shopping value index and the shopping frequency index consistently showed an increase until the beginning of March 2020. In the first week of March 2021, the shopping frequency index was at the level of 116.7. Meanwhile, the shopping value index was at the level of 104.6.