"Hat-trick" Tax Revenue Reaches Rp1.869 Trillion in 2023

The Ministry of Finance (Kemenkeu) reported that Indonesia's tax revenue reached Rp1,869.2 trillion in 2023, an increase of 8.9% compared to 2022 (year-on-year/yoy).

This achievement is equivalent to 108.8% of the 2023 State Budget (APBN) target or 102.8% of the Presidential Regulation 75/2023 target.

Throughout 2023, the largest tax revenue came from non-oil and gas income tax (PPh), namely Rp993 trillion or 101.5% of the APBN target.

Next, Value Added Tax (PPN) and Luxury Goods Sales Tax (PPnBM) reached Rp764.3 trillion or 104.7% of the target.

Land and Building Tax (PBB) and other taxes contributed Rp43.1 trillion or 114.4% of the target. Meanwhile, oil and gas income tax (PPh migas) recorded Rp68.8 trillion, realizing 96% of the target.

Indonesia's tax revenue has exceeded its targets for three consecutive years since 2021.

"It's a hat-trick, three consecutive goals from 2021, 2022, and 2023. All above 100%, this is a performance we must maintain," said Sri Mulyani in a press conference on the 2023 APBN Realization and Performance on the YouTube channel, Tuesday (2/1/2024).

Tax revenue in 2021 reached Rp1,278.63 trillion or 104% of the target. Then in 2022, it was Rp1,716.77 trillion or 115.6% of the target.

Sri Mulyani stated that this momentum occurred not only due to soaring commodity prices but also because of the broadened tax base and increased supervision by tax officers.

(See also: State Revenue Reaches Rp2,700 Trillion in 2023, Majority from Taxes)