Import Tax Revenue Grew by 172% in January-April 2022

Economics & Macro

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Dzulfiqar Fathur Rahman 24/05/2022 12:50 WIB

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Import Income Tax (PPh) Article 22 receipts grew by 172.8% (year-on-year) in January-April 2022, reversing the annual contraction experienced in the same period the previous year.

Annual Tax Revenue Growth (January–April 2022)

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Import Tax Revenue Grew by 172% in January-April 2022

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Annual Tax Revenue Growth (January–April 2022)

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The Ministry of Finance (Kemenkeu) reported positive growth in tax revenue across all categories during the January-April 2022 period.

The highest growth was seen in Income Tax (PPh) Article 22 Import revenue, which grew by 172.8% (year-on-year/yoy) in January-April 2022, reversing the annual contraction experienced in the same period the previous year.

Import Value Added Tax (PPN) also grew by 40.2% (yoy) in the January-April 2022 period, approximately 4.6 times faster than the growth in the same period of 2021.

"The improved revenue performance is a result of the low-base effect, increased corporate performance, increased import activity, and the impact of (the voluntary disclosure program)," wrote the Kemenkeu in a presentation released on Monday (23/5/2022).

During this period, Corporate Income Tax (PPh Badan) grew by 105.3% (yoy), in line with the recovery in profitability, rising commodity prices, and the ongoing economic recovery.

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."