Indonesia's Ministry of Finance Targets Rp246.1 Trillion in Excise Revenue in the 2024 State Budget

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Cindy Mutia Annur 23/08/2023 14:20 WIB

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The Ministry of Finance (MoF) targets excise tax revenue of Rp246.1 trillion in the 2024 State Budget draft (RAPBN).

Indonesia's Tax Revenue Development (2019-2024)

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Indonesia's Tax Revenue Development (2019-2024)

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The Ministry of Finance (Kemenkeu) targets excise tax revenue of Rp246.1 trillion in the 2024 State Budget (RAPBN). This figure represents an 8.31% increase compared to the APBN 2023 outlook of Rp227.2 trillion.

"Excise revenue optimization will be carried out through intensification and extensification of excise duties," said Kemenkeu, as quoted from the 2024 Financial Note. According to Kemenkeu, this optimization is being undertaken to support the implementation of the Harmonization of Tax Regulations Law (UU HPP).

Kemenkeu stated that excise intensification will be achieved by adjusting excise tariff policies, particularly for tobacco excise taxes (CHT), which are formulated in the medium term. Meanwhile, excise extensification will be implemented by applying new exciseable goods, namely plastic and pre-packaged sweetened beverages (MBDK).

Previously, the Director General of Customs and Excise at Kemenkeu, Askolani, stated that the MBDK excise tax will not have a band system, unlike cigarette excise taxes which use excise stamps.

According to Askolani, his office is currently conducting a detailed review of the MBDK excise regulations, ranging from implementation procedures to determining the amount of levy.

“We can perhaps say that regarding the MBDK policy, God willing, it will be implemented in 2024. Currently, (the regulations) are being prepared by the government,” said Askolani in a press conference on APBN Kita, Friday (11/8/2023).

Over the past five years, Indonesia's excise revenue has tended to increase. The highest growth in excise revenue was in 2022, with a 16% increase compared to the previous year (year-on-year/yoy). Meanwhile, the lowest growth was seen in the APBN 2023 outlook, which only grew by 0.1% from excise revenue in APBN 2022.

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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Indonesia's Ministry of Finance Targets Rp246.1 Trillion in Excise Revenue in the 2024 State Budget

Indonesia's Ministry of Finance Targets Rp246.1 Trillion in Excise Revenue in the 2024 State Budget

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Indonesia's Ministry of Finance Targets Rp246.1 Trillion in Excise Revenue in the 2024 State Budget

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