Indonesian Ministry of Finance: Tax Revenue Reaches Rp 868 Trillion as of June 2022

JAKARTADAILY.ID – The Indonesian Ministry of Finance noted that until the end of June 2022, Tax revenues reached Rp 868.3 trillion. Director General of Taxes Suryo Utomo said the growth of Tax revenue reached 55.7 percent with an achievement of 58.5 percent of the target of Perpres 98/2022.

"Hopefully this will be consistent until the end of the year, although there are several notes conveyed by the Minister of Finance, we must remain vigilant regarding commodity price movements and also developments in the world economy," said Suryo in a press release on Wednesday, August 3, 2022.

Suryo added that, if broken down further according to the major Tax types, Non-Oil and Gas income Tax (PPh) contributed 69.4 percent of the target obtained with a total of Rp 519.6 trillion.

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Then, PPN & PPnBM recorded revenues of Rp. 300.9 trillion (47.1 percent of the target), PBB & Other Taxes was recorded at Rp 4.8 trillion (14.9 percent of the target), and PPh Oil and Gas reached Rp 43 trillion (66. 6 percent of the target).

"There are several elements that contribute to the achievement of acceptance until the first half of 2022," continued Suryo.

The excellent performance of Tax revenue in January to June 2022 period was influenced by several factors such as the trend of increasing commodity prices, expansionary economic growth and steadily improving demand levels (domestic and overseas), a low base in 2021 due to incentives, and impact of the implementation of the Tax Harmonization (HPP) Law.

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In June, growth performance was mainly supported by very high Voluntary Disclosure Program (PPS) receipts in the last month of implementation.

Suryo added that in the second semester his party estimates that Tax growth will still be quite consistent in line with the development of economic growth. Even so, Indonesia must remain vigilant about the impact of the influence of the world economy.

"So we said earlier and the Minister has also said that we must remain vigilant about the growth and the world economic situation because economic influences will also have an impact on Tax revenues," concluded Suryo.

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