Capai Tax Revenue Of IDR 624.19 Trillion Until April 2024

Minister of Finance Sri Mulyani (Photo; Doc. Antara)

JAKARTA - The Ministry of Finance (Kemenkeu) noted that the realization of tax revenues until April 2024 was IDR 624.19 trillion, equivalent to 31.38 percent of the 2024 State Revenue and Expenditure Budget (APBN) target.

Finance Minister Sri Mulyani said that the increase in tax revenues would continue since the beginning of the year in January amounting to IDR 149 trillion. Then in February it became IDR 262 trillion and in March 2024 it reached IDR 393 trillion. Then, the accumulated tax reached IDR 624 trillion in April 2024.

However, according to Sri Mulyani, the decline in commodity prices since 2023 has suppressed tax revenues in 2024. The tax revenue was corrected by 9.29 percent on an annual basis (yoy), when compared to the same period last year of Rp688.15 trillion.

Sri Mulyani explained that the tax revenue from Non-Migas PPh was IDR 377 trillion or equivalent to 35.45 percent of the 2024 State Budget target.

"It's still quite on track for four months, but the growth is gross minus 5.43 percent" Sri Mulyani said at the KITA State Budget Press Conference, Monday, May 27.

Sri Mulyani said that based on other components, revenue of value added tax and sales tax on luxury goods (VAT and PPnBM) amounted to Rp218.50 trillion or the equivalent of 26.93 percent of the 2024 State Budget target.

"If we look at this a bit below the target, if we look at the 4 months, it is a bit below the 33 percent target. But grossly it still grows at 5.93 percent," he said.

Sri Mulyani said that the gross growth of VAT and PPnBM was positive in line with the good economic activity in January to April 2024.

Meanwhile, land and building taxes (PBB) and other taxes were recorded at Rp3.87 trillion or 10.7 percent of the target. Then, the oil and gas tax has been realized at Rp23.81 trillion or 32.49 percent of the APBN target.