VAT Rate to Increase to 12%, This is the 2025 VAT Revenue Target

Economics & Macro

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Viva Budy Kusnandar 21/11/2024 14:50 WIB

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Based on the 2025 State Budget (RAPBN), the target for Value Added Tax (VAT) revenue next year will reach Rp945.12 trillion, a 16% increase from the 2024 target.

Target and Realization of VAT and Sales Tax on Luxury Goods Revenue (2018-2025)*

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Target and Realization of VAT and Sales Tax on Luxury Goods Revenue (2018-2025)*

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The government plans to increase the value-added tax (VAT) rate from 11% to 12%, effective January 1, 2025.

In the 2025 State Budget Draft (RAPBN), the government targets VAT and luxury goods sales tax (PPnBM) revenue to reach Rp945.12 trillion next year.

This target is an increase of Rp133.75 trillion, or approximately 16%, from the target VAT and PPnBM revenue in the 2024 State Budget, which was Rp811.37 trillion.

VAT and PPnBM revenue has consistently exceeded targets during the 2021-2023 period. The details are as follows:

* 2021: target Rp518.55 trillion, realization Rp551.9 trillion
* 2022: target Rp554.38 trillion, realization Rp687.61 trillion
* 2023: target Rp742.95 trillion, realization Rp763.63 trillion

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."