Most of 2023 Tax Revenue Comes from Non-Oil and Gas Income Tax; Here's the Amount

Economics & Macro

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Cindy Mutia Annur 19/01/2024 19:10 WIB

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The Indonesian Ministry of Finance's report shows that Indonesia's tax revenue reached Rp1,869.23 trillion throughout 2023, with the majority of tax revenue coming from non-oil and gas income tax (PPh

Indonesia's Tax Revenue Realization (2023)

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Most of 2023 Tax Revenue Comes from Non-Oil and Gas Income Tax; Here's the Amount

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Indonesia's Tax Revenue Realization (2023)

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The Indonesian Ministry of Finance (Kemenkeu) report shows that tax revenue reached Rp1,869.23 trillion in 2023, an 8.88% increase year-on-year (yoy).

This achievement is equivalent to 108.8% of the 2023 State Budget (APBN) target of Rp1,718.03 trillion, or 102.8% of the target set by Presidential Regulation Number 75 of 2023, valued at Rp1,818.24 trillion.

Throughout 2023, the majority of tax revenue came from non-oil and gas income tax (PPh nonmigas), amounting to Rp993.03 trillion, a 7.9% increase from the previous year's achievement.

Next, Value Added Tax (PPN) and Luxury Goods Sales Tax (PPnBM) reached Rp764.34 trillion, surging 11.16% (yoy). Meanwhile, oil and gas income tax (PPh migas) recorded revenue of Rp68.79 trillion, down 11.63% from the previous year's realization.

The Kemenkeu stated that the performance of oil and gas income tax experienced a slowdown due to the moderation caused by falling energy commodity prices, especially crude oil and natural gas.

Furthermore, Land and Building Tax (PBB) contributed Rp33.33 trillion, a remarkable increase of 43.25% over the past year. The remaining revenue came from other taxes, which surged 26.79% to Rp9.75 trillion in 2023.

Overall, according to the Kemenkeu, tax revenue performance remained strong despite falling commodity prices and global economic uncertainty throughout last year.

Editor : Erlina Fury Santika

"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."