English
Indonesia: Tax Revenue Reaches Rp463.5tn in May
TEMPO.CO, Jakarta – Finance Ministry recorded a tax revenue that reached Rp463.5 trillion in May, which is 30.9 percent from the 2017 State Budget target.
The government is targeting to achieve Rp1,498.9 trillion of tax revenue by the end of this year.
“It’s a positive growth, this is 13.9 percent better than the previous year. Our tax revenue during the same period last year was minus 6.5 percent,” said the Directorate General of Financing and Risk Management at the Finance Ministry, Robert Pakpahan on Wednesday, June 7.
According to Robert, non-gas and oil tax revenue reached Rp396 trillion or 31.7 percent of the 2017 State Budget target. The non-gas and oil tax income grew 13.4 percent compared to the same period last year.
The custom and excise revenue for May reached Rp45.7 trillion or 23.9 percent from its intended target of Rp191.2 trillion. The income grew 6.7 percent compared to the previous year. Meanwhile, the oil and gas tax revenue reached Rp21 trillion or 58.4 percent from its Rp35.9 trillion target, which grew 47.6 percent.
Previously, Finance Minister Sri Mulyani Indrawati said that the tax ratio significant increase could not be realized in a short amount of time available. She argued that a sudden spike in tax income during a short amount of time would create a distortion that would negatively affect the economy.
The House of Representatives fixed a target ratio of 13 percent in 2018. Realistically, the tax ratio for 2018 eyes for 11 to 12 percent increase. Meanwhile, this year’s tax ratio is predicted to remain under 11 percent.
Source: https://en.tempo.co/read/news/2017/06/07/056882423,uk.html/Tax-Revenue-Reaches-Rp4635tn-in-May