October 2022 Tax Revenue Reaches Rp1.448.2 Trillion, Sri Mulyani Happy!

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Annissa Mutia 24/11/2022 17:10 WIB

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The Ministry of Finance recorded tax revenue of Rp1,448.2 trillion by October 2022.

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October 2022 Tax Revenue Reaches Rp1.448.2 Trillion, Sri Mulyani Happy!

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Tax Revenue January-October (2019-2022)

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The Ministry of Finance recorded tax revenue reaching Rp1,448.2 trillion by October 2022. This realization has reached 97.5% of the State Budget (APBN) target of Rp1,485 trillion.

"This shows a 51.83% growth. An extraordinary increase," said Sri Mulyani in a press conference for the APBN KITA November 2022 edition in Jakarta, Thursday (24/11/2022).

This figure comprises non-oil and gas income tax (PPh) of Rp784.4 trillion (104.7% of the target), Value Added Tax (PPN) and Sales Tax on Luxury Goods (PPnBM) of Rp569.7 trillion (89.2% of the target), oil and gas income tax (PPh) of Rp67.9 trillion (105.1% of the target), and Land and Building Tax (PBB) and other taxes of Rp26 trillion (80.6% of the target).

Sri Mulyani stated that the good tax revenue performance up to October 2022 was influenced by the upward trend in commodity prices, expansive economic growth, a low base in 2021, and the implementation of the Harmonization of Tax Regulations Law (UU HPP).

Monthly performance shows that tax growth (monthly and cumulative) is normalizing. The increase in October was due to fuel compensation payments. Without this payment, tax growth was only 20%.

(read: State Spending Funds Only Used 61% Until September 2022)

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."