VAT and Sales Tax on Luxury Goods Revenue Increased 2014-2023

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Adi Ahdiat 14/10/2024 13:40 WIB

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According to the Indonesian Government Procurement Policy Agency (LKPP), government revenue from Value Added Tax (VAT) and Sales Tax on Luxury Goods (PPnBM) has increased significantly over the past d

Realization of VAT and Sales Tax on Luxury Goods Receipts in Indonesia (2014-2023)

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Realization of VAT and Sales Tax on Luxury Goods Receipts in Indonesia (2014-2023)

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Value Added Tax (VAT) and Luxury Goods Sales Tax (PPnBM) collections in Indonesia have increased over the past decade.

This is recorded in the Central Government Financial Report (LKPP) released by the Ministry of Finance.

VAT is a tax levied on the consumption of goods and services domestically. PPnBM is an additional tax on the consumption of luxury goods.

In 2014, government revenue from VAT and PPnBM was approximately Rp409 trillion. After that, the trend increased to Rp531 trillion in 2019.

In 2020, collections decreased due to the COVID-19 pandemic, which restricted public consumption activities.

Since 2021, collections have risen again, reaching Rp763 trillion in 2023, the highest in the last decade.

This rapid growth is partly influenced by the policy to increase the VAT rate from 10% to 11%, effective from 2022.

"The achievement of domestic VAT realization is due to the impact of tax reform as an implementation of the HPP Law, including the adjustment of the VAT rate to 11 percent, the imposition of crypto tax, and VAT on PMSE [electronic system trading]," as quoted from the 2022 LKPP.

In 2023, collections increased further, supported by stronger consumption.

"The positive performance of domestic VAT is in line with domestic economic activity and consumption levels that remain maintained," as quoted from the 2023 LKPP.

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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VAT and Sales Tax on Luxury Goods Revenue Increased 2014-2023

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