Economy Recovers, Tax Restitution Drops 2.87% in July

Monday, 15 August 2022

Economy Recovers, Tax Restitution Drops 2.87% in July

JAKARTA. The realization of tax overpayment or restitution decreased by 2.87% at the end of July 2022 compared to the same period last year or year on year (YoY). The amount of restitution realized by the end of July 2022 was recorded at IDR 124.59 trillion.

Quoting, the Directorate General of Taxes (DGT) said that the realization of restitution until the end of July 2022 was dominated by domestic Value Added Tax (VAT) of IDR 90.68 trillion or grew 6.11% YoY. This value is equivalent to 72.78% of the total realization of restitution.

Meanwhile, restitution for the type of Income Tax Article (ITA) 25/29 was recorded at IDR 29.27 trillion or decreased by 18.75% YoY.

When viewed from the source, the tax refund consisted of accelerated restitution of IDR 51.47 trillion or grew 40.62% YoY.

Then, restitution from legal efforts decreased by 16.12% YoY to IDR 17.92 trillion. Meanwhile, normal restitution was recorded at IDR 55.20 trillion, down 21.49% from the same period the previous year.

In this regard, according to the Executive Director of the MUC Tax Research Institute, Wahyu Nuryanto, the decline in the realization of restitution was the impact of the improving economic conditions.

This is in line with data from Statistics Indonesia (BPS) which states that Indonesia's economic growth in the second quarter grew 5.44% year on year.

In addition, the lack of corporations applying for restitution can be interpreted as an indicator that the company's performance or profitability is improving.


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