Growth of Indonesia's Top 5 Main Taxes, Corporate Income Tax Resilient by the End of 2024
- A Small Font
- A Medium Font
- A Bigger Font
The Ministry of Finance (Kemenkeu) report shows that there are five main taxes with significant revenue. These five main types of taxes experienced fluctuating net revenue growth throughout 2024.
These five taxes include Article 21 Income Tax (PPh 21), Personal Income Tax (PPh OP), Corporate Income Tax (PPh Badan), Domestic Value Added Tax (PPN DN), and Import VAT (PPN Impor).
PPh 21, largely derived from the working class, contributed net growth of 25.9% in Q1 2024. This percentage then increased to 30.8% in Q2 2024.
However, it fell to 12.8% in Q3 and 12.2% in Q4.
Next, PPh OP reached 9.2% in Q1 2024. Its growth rose to 26.9% in Q2; 22.9% in Q3, and 44.2% in Q4 2024.
Meanwhile, the growth of PPh Badan tended to be negative. Specifically, -29.8% in Q1; -36.6% in Q2, and -10.3% in Q3. However, in Q4 2024, growth was resilient at 32.9%.
The Deputy Minister of Finance, Anggito Abimanyu, explained that the contraction of PPh Badan was influenced by a decline in profits due to commodity price moderation.
"Changes in global and macroeconomic conditions have affected tax revenue," said Anggito in the *APBN KiTa* press conference broadcast on the Ministry of Finance's YouTube channel on Monday (January 6, 2025).
Then there's PPN DN, which was negative at the beginning of 2024, at -23.8%. It then gradually grew positively to 3.2% in Q2; 21.7% in Q3; and 32.8% in Q4.
Finally, PPN Impor showed a pattern quite similar to PPN DN. It plummeted 2.8% at the beginning of the quarter, growing to 6.5% in Q2; 16.7% in Q3; and 8.2% in Q4.
(See also: [VAT Exemption Incentives 2025 Reach Rp265 Trillion, Here's the Breakdown](https://databoks.katadata.co.id/ekonomi-makro/statistik/676108bf7e8d0/insentif-pembebasan-ppn-2025-capai-rp265-triliun-ini-rinciannya))
"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."
Related Data
Latest Data Stories
Trending Topics
Popular Data