JAKARTA - The government's decision to limit the trade of crude palm oil (CPO) abroad is considered to have an influence on state revenues from tax collections.
An economic observer from the Center of Reform on Economics (CORE) study institute, Yusuf Rendy Manilet, said that so far the country has enjoyed distinct advantages from imposing tariffs on CPO exports. Moreover, the volume and value of these commodities experienced a significant increase in line with the recent geopolitical intensity.
"This does have an impact on the state budget because the ban on CPO exports will definitely make tax collections, especially on export duties, be depressed", he told VOI quoted Wednesday, April 27.
However, Rendy considers that the policy of stopping palm oil trade to foreign countries will not have too much influence on the macrostate revenue structure. The reason is that several other commodities which are also the mainstay of Indonesia's exports are believed to still be able to close the gap in tax payments.
"However, the current conditions with the ban on CPO exports will not necessarily reduce state revenues because this can still be compensated for with revenues from other commodities such as coal, nickel, and crude oil", he said.
In the editorial notes, until March 2022 the growth of state revenues was significantly supported by rising commodity prices and strong international trade.
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In the first three months of this year, mining performance grew 154 percent year on year (YoY). Meanwhile, the trade sector rose 58 percent YoY, and the manufacturing sector increased 44 percent YoY.
In detail, tax revenues grew 38.4 percent YoY in March 2022 to IDR 401.8 trillion from the same period the previous year of IDR 290.4 trillion.
This tax revenue itself consists of tax revenues which rose 41.4 percent YoY to IDR 322.5 trillion and customs and excise taxes which rose 27.3 percent YoY to IDR 79.3 trillion.
Meanwhile, for other sectors, namely Non-Tax State Revenue (PNBP), it was recorded that it recorded IDR 99.1 trillion or 11.8 percent higher than March 2021 which amounted to IDR 88.6 trillion.
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