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The 2023 State Budget Draft's Discussion Led to an Increase in Tax Revenue of IDR 2.9 Trillion

Thursday, 15 September 2022

The 2023 State Budget Draft's Discussion Led to an Increase in Tax Revenue of IDR 2.9 Trillion

JAKARTA. The government and the Budget Committee of the House of Representatives (DPR) agreed on a 2023 tax revenue target of IDR 1,718 trillion on Wednesday (14/9).

This figure increased by IDR 2.9 trillion from the original target proposed by the government in the 2023 State Budget Draft (RAPBN) of IDR 1,715.1 trillion.

Citing Bisnis.com, one of the key drivers of the tax revenue target is Value Added Tax (VAT).

In addition, the government assesses that the tax target can be achieved because economic projections are also predicted to be better.

The government also revealed that the tax revenue target has considered several things, such as the commodity boom cycle.

Additionally, the government has also taken into account the impact of the absence of the Voluntary Disclosure Program (VDP), which this year has contributed significantly to tax revenues.

Total State Revenue

Meanwhile, quoting kontan.co.id, the overall state revenue target is targeted at IDR 2,443.6 trillion, an increase of 19.4 trillion from the initial posture.

Then the target for state expenditure was agreed at IDR 3,061.2 trillion, an increase of 19.4 trillion.

With the change in the state's revenue and expenditure targets, the 2023 State Budget deficit also changed from the previous 2.85% of Gross Domestic Product (GDP) to 2.84% of GDP.



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