Grows 51 Percent, Tax Revenue in Ten Months Reaches IDR 1,448.2 Trillion

JAKARTA - The government through the Minister of Finance, Sri Mulyani, revealed that the value of tax revenues until October 2022 had reached IDR 1,448.2 trillion. This figure grew 51.8 percent year on year (YoY) when compared to the same period in 2021 IDR 953.8 trillion.

"The excellent tax revenue performance until October 2022 is still influenced by the upward trend in commodity prices and expansive economic growth",she said through a virtual channel on Thursday, November 24.

According to the Minister of Finance, another factor that helped boost the growth rate was none other than the low tax revenue base last year.

"There is also a contribution from the implementation of the Law on the Harmonization of Tax Regulations (HPP), which has been implemented since the beginning of this year", she said.

In detail, the state treasurer detailed that the moncer book up to last month was also supported by non-oil and gas PPh receipts amounting to IDR 784.4 trillion. Then PPN and PPnBM amounting to IDR 569.7 trillion, PBB and other taxes worth IDR 26 trillion, and oil and gas PPh with a value of IDR 67.9 trillion.

Furthermore, the Minister of Finance assessed that there are things that need to be watched out for in the tax revenue sector. The reason is, the government found that currently, the monthly performance of tax growth is heading towards a normalized (decreasing) level.

“The increase in growth in October was due to the payment of fuel compensation. Even in the calculation, without this (compensation payments) the tax can only grow by 20 percent", she said.

To note, in addition to tax revenues, the source of state revenue also comes from customs and excise, which until last month had collected IDR 256.3 trillion or grew 24.6 percent YoY. Then, it was also contributed by non-tax state revenues (PNB) of IDR 476.5 trillion or grew 36.4 percent YoY.

In general, state revenue until October 2022 was IDR 2,181.6 trillion with a 44.5 percent growth from October 2021, which at that time was recorded at IDR 1,974.7 trillion.