Indonesia's Tax Revenue Rises to Rp1.045 Trillion in July 2024

Economics & Macro

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Erlina Fury Santika 15/08/2024 11:35 WIB

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The Indonesian Ministry of Finance recorded tax revenues of Rp1,045.32 trillion as of July 2024. This represents 52.56% of the target.

Cumulative Realization and Achievement of Indonesian Tax Revenue (January-July 2024)

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Cumulative Realization and Achievement of Indonesian Tax Revenue (January-July 2024)

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The Ministry of Finance (Kemenkeu) report states that Indonesia's cumulative tax revenue realization in the state budget (APBN) reached Rp1,045.32 trillion by July 2024.

This figure represents 52.56% of the cumulative target in the APBN. July 2024 tax revenue increased by 16.94% compared to June 2024, which was Rp893.85 trillion. Last month's cumulative achievement was 44.94%.

Tax revenue has shown positive growth since the beginning of the year, particularly in April 2024, as shown in the graph.

A detailed breakdown of tax revenue up to July 2024 shows: Non-oil and gas income tax (PPh nonmigas) at Rp593.76 trillion (gross -3.04%); Value Added Tax and Sales Tax on Luxury Goods (PPN and PPnBM) at Rp402.16 trillion (gross +7.34%); Land and Building Tax and other taxes (PBB and pajak lainnya) at Rp10.07 trillion (gross +4.14%); and oil and gas income tax (PPh migas) at Rp39.32 trillion (gross -13.21%).

Finance Minister Sri Mulyani stated that the gross revenue from PPN and PPnBM showed positive performance. The growth in gross revenue from PBB and other taxes was supported by PBB revenue from the mining sector.

Sri Mulyani's report also explains that the contraction in non-oil and gas income tax (PPh nonmigas) was due to the weakening commodity prices last year, which led to decreased profitability in 2023, particularly in commodity-related sectors.

Meanwhile, the contraction in oil and gas income tax (PPh migas) was due to a decrease in oil lifting.

(Also read: [State Revenue Down, APBN Deficit Rp93.4 Trillion in July 2024](https://databoks.katadata.co.id/datapublish/2024/08/14/pendapatan-negara-turun-apbn-defisit-rp934-triliun-pada-juli-2024))

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."