Mining Tax Revenue Grows 259% in January-April 2022

Economics & Macro

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Dzulfiqar Fathur Rahman 24/05/2022 13:50 WIB

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Mining sector tax revenue grew by 259.5% year-on-year (yoy) in January–April 2022, reversing the annual contraction recorded in the same period the previous year.

Annual Tax Revenue Growth by Sector (January–April 2022)

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Mining Tax Revenue Grows 259% in January-April 2022

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Annual Tax Revenue Growth by Sector (January–April 2022)

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The Ministry of Finance (Kemenkeu) reported positive growth in tax revenue from various industrial sectors during the January-April 2022 period.

The highest growth occurred in tax revenue from the mining sector, which increased by 259.5% (year-on-year/yoy) in January-April 2022, reversing the annual contraction that occurred during the same period the previous year.

"The performance of tax revenue in January-April was generally driven by rising commodity prices, economic recovery, and the impact of tax policies," wrote the Kemenkeu in its presentation released on Monday (May 23, 2022).

Tax revenue growth also occurred amid increased demand and sales during Ramadan, which fell in April this year.

Tax revenue from the manufacturing sector, a major contributor, grew by 50.6% (yoy) in the first four months of 2022. This growth reversed the annual contraction seen in the same period of 2021.

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."