Mrs. Sri Mulyani Fans, These Two Tax Sectors Have Reached the Target in October 2022

Illustration (Photo: Doc. Antara)

JAKARTA - Minister of Finance, Sri Mulyani, stated that two tax revenue sectors had exceeded the predetermined target for this year.

According to her, the two sectors are income tax (PPh) from non-oil and gas with a realization of IDR 784.4 trillion or 104.7 percent of the target, and oil and gas PPh which recorded IDR 67.9 trillion or 105.1 percent of the target.

"This is the realization of tax revenues collected until October 2022", she said when meeting the media crew through online channels on Thursday, November 24.

In detail, the Minister of Finance explained that two other sectors are sources of tax revenue. First, value-added tax (VAT) and sales tax on luxury goods (PPnBM) collected IDR 569.7 trillion, or 89.2 percent of the target.

Second, the land and building tax (PPB) along with other taxes reached IDR 26 trillion or 80.6 percent of the total.

Although it is not 100 percent yet, the performance of these two sectors is still on track to be able to meet the achievements at the end of the year.

“Indeed, if we look at the tax revenue, we can be proud because it grows high. But every month, there is a trend towards normalization or decline. This is natural because tax growth that is too high can interfere with economic growth itself", she stressed.

In general, tax revenue until October 2022 has 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.

In terms of portion, last month's tax reached 97.5 percent of the target set in the State Budget (APBN) of IDR 1,485 trillion.