Tobacco Excise Revenue Grows 15.39% in the First Quarter

Economics & Macro

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Dzulfiqar Fathur Rahman 26/04/2022 18:40 WIB

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The Ministry of Finance reported that tobacco excise revenue grew by 15.39% to Rp55.65 trillion in the January-March period compared to the same period last year.

Annual Growth of Tobacco Excise Revenue (January-March 2019-2022)

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Tobacco Excise Revenue Grows 15.39% in the First Quarter

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Annual Growth of Tobacco Excise Revenue (January-March 2019-2022)

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The Ministry of Finance (Kemenkeu) reported that tobacco excise revenue grew in the first three months of the year, largely driven by increased tariffs and commodity production.

Tobacco excise, which contributes significantly to customs and excise revenue, grew by 15.39% to Rp55.65 trillion in the January-March period compared to the previous year. This growth was significantly slower than the same period in 2021.

"Factors driving the performance of (tobacco excise) revenue include the impact of the adjustment of cigarette excise tariff policies and the spillover effect of cigarette excise payments in 2021," wrote Kemenkeu in its State Budget Revenue and Expenditure (APBN) report.

The government increased cigarette excise tariffs by an average of 12% from the beginning of this year. This increase contributed to the annual inflation of cigarettes and tobacco, which reached 6.36% in March.

Tobacco excise revenue in the first three months was also driven by a 9.9% year-on-year growth in tobacco production.

Editor : Annissa Mutia

"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."