The Ministry of Finance stated that state tax revenue reached Rp162.23 trillion throughout January 2023. This figure grew by 48.6% year-on-year (yoy) compared to January 2022.
This realization of tax revenue at the beginning of 2023 is equivalent to 9.4% of the 2023 State Budget (APBN) target of Rp1.718 trillion.
Finance Minister Sri Mulyani Indrawati said that this achievement indicates that the Indonesian economy continues to grow. She explained that tax revenue in January 2022 was only Rp109.2 trillion, or a 59.5% yoy increase compared to January 2021, which was Rp68.5 trillion.
"So, we see that economic recovery is still reflected and captured by the still high increase in tax revenue," said Sri Mulyani in a press conference on the APBN KITA, Wednesday (21/2/2023).
According to Sri Mulyani, the high tax revenue in the first month of 2023 is also due to the results of tax reform through the implementation of the Law on Harmonization of Tax Regulations (HPP).
"The HPP Law has begun to be implemented and has contributed to the achievement of significantly increased tax revenue in January 2023," said Sri Mulyani.
In detail, the realization of tax revenue in January 2023 is divided into four groups.
First, the realization of non-oil and gas income tax (PPh) was the largest contributor, at Rp78.29 trillion, achieving 8.96% of the overall annual sector target. According to Sri Mulyani, non-oil and gas PPh revenue grew by 28.03% year-on-year (yoy).
Second, the realization of value-added tax (PPN) and luxury goods sales tax (PPnBM) reached Rp74.64 trillion, or 10.04% of the overall annual tax target. As of January 2023, PPN and PPnBM realization grew by 93.86% from January 2022.
"The PPN rate increased by 1% due to the implementation of the HPP Law. Then, the growth of PPN and PPnBM reached 93.86%, due to the increasing economic activity of the community," said the former World Bank Managing Director.
Third, the realization of Land and Building Tax (PBB) reached Rp1.29 trillion in January 2023, or 3.21% of the overall annual tax target. PBB realization in that period surged by 118.72% year-on-year (yoy).
Fourth, the realization of oil and gas income tax (PPh) amounted to Rp8.03 trillion, or 13.07% of the overall annual tax target. However, oil and gas PPh realization experienced a 10.09% contraction from the previous year (yoy). "Oil and gas PPh decreased, as seen in the decline in commodity prices," said Sri Mulyani.