Deputy Minister Of Finance Anggito: Tax Revenue Reaches IDR 1,517.53 Trillion As Of October 31, 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - Deputy Minister of Finance (Wamenkeu) Anggito Abimanyu reported that tax revenues have improved in the last four months, with a realization of Rp1,517.53 trillion as of October 31, 2024.

This value is equivalent to 76.3 percent of the 2024 State Revenue and Expenditure Budget (APBN) target of IDR 1,988.88 trillion.

"Our acceptance has experienced very positive conditions in the last four months," said Anggito during a press conference for the KiTa State Budget Edition in November 2024 in Jakarta, quoted from Antara, Friday, November 8.

Gross revenue of value added tax (VAT) and luxury goods sales tax (PPnBM) recorded a positive performance with a growth of 7.87 percent, with a value of IDR 620.42 trillion or 76.47 percent of the target.

The good growth of VAT and PPnBM is in line with the maintenance of domestic consumption, both domestically and imported.

Then, land and building taxes (PBB) and other taxes also grew positively 12.81 percent to Rp32.65 trillion or 86.52 percent of the target. PPB and other taxes are experiencing improved performance due to the increase in oil and gas payments.

Unlike the two components that recorded positive growth, the non-oil and gas income tax (PPh) component is still contracting.

Non-oil and gas income tax was recorded at IDR 810.76 trillion or 76.24 percent of the target, a slight contraction of 0.34 percent. Despite growing negatively, Anggito said this component still showed improvement due to an increase in gross revenue from the mining sector and a decrease in restitution.

"It's down 0.34 percent, it's cumulative January-October. If you look at September and October, it's positive. So, if it's positive monthly, but if it runs on a year, it's still red," explained Anggito.

Meanwhile, the oil and gas tax contracted 8.97 percent due to a decrease in oil lifting. The oil and gas tax deposit was recorded at IDR 53.70 trillion or 70.31 percent.

"Hopefully there will be a turn around in the last two months," he added.

Anggito said the Ministry of Finance (Kemenkeu) is optimistic that the positive trend of tax revenues will continue until the end of the year.