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Government Receives Rp1.6 Quadrillion in Tax Revenue, Highest Since Pandemic

Adi Ahdiat 20/12/2022 18:20 WIB

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Tax revenue performance in 2022 was strong and reached a record high since the pandemic. However, Sri Mulyani stated that the government needs to remain vigilant in the coming year.

Indonesia's Tax Revenue Realization (2019-2022*)

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Government Receives Rp1.6 Quadrillion in Tax Revenue, Highest Since Pandemic

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Indonesia's Tax Revenue Realization (2019-2022*)

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According to the Ministry of Finance's report, from the beginning of the year until December 14, 2022, tax revenue realization has reached Rp1.63 quadrillion.

This amount has exceeded the 2022 tax revenue target of Rp1.48 quadrillion, surging 41.93% compared to 2021's revenue, and marking the highest record since the pandemic, as shown in the graph.

"The excellent performance of tax revenue until December 14, 2022, is still influenced by the upward trend in commodity prices, expansive economic growth, and the implementation of the Harmonization of Tax Regulations Law (UU HPP)," explained Minister of Finance Sri Mulyani in the "Our State Budget" Press Conference on Tuesday (20/12/2022).

"This very high increase will be our capital to ensure that the State Budget (APBN) becomes increasingly healthy, so that the APBN can protect the community, protect the economy, and continue to support Indonesia's development," she continued.

During the January-December 14, 2022 period, the realization of Non-Oil and Gas Income Tax (PPh Non-Migas) revenue reached Rp900 trillion, or 120.2% of the target.

Then, the realization of Oil and Gas Income Tax (PPh Migas) reached Rp75.4 trillion (116.6% of the target), Value Added Tax and Sales Tax on Luxury Goods (PPN and PPnBM) reached Rp629.8 trillion (98.6% of the target), while Land and Building Tax (PBB) and Other Taxes reached Rp29.2 trillion (90.4% of the target).

Although this year's tax performance is good, Sri Mulyani stated that the government needs to be vigilant next year.

"From April 2022 to today, the cumulative growth of tax revenue has always been above 40%. However, we see that it will not be possible for the growth to continue to be high. So we also have to calibrate our tax revenue target," said Sri.

"And indeed, in 2023, our tax revenue target is quite modest, because we see that for two years (tax revenue) has grown relatively high," she continued.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Government Receives Rp1.6 Quadrillion in Tax Revenue, Highest Since Pandemic

Government Receives Rp1.6 Quadrillion in Tax Revenue, Highest Since Pandemic

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