JAKARTA. The trend of growth in tax revenue is starting to show a slowdown. Until the end of August 2022, the realization of tax revenues only grew 58.1% to IDR 1,171.8 trillion, from the realization in the same period in 2021.
This growth was lower than the months of June and July 2022 which recorded growth of 80.4% and 61.8% and June 2022, respectively.
In her presentation, Minister of Finance Sri Mulyani Indrawati explained that there were several factors that influenced the slowdown. First, is the loss of additional revenue from the Voluntary Disclosure Program (VDP) which has been running from the January-July 2022 period or for six months.
Second, the trend of tax revenues began to enter the normalization phase after the Covid-19 pandemic. "This trend is expected to continue until the end of 2022," Sri Mulyani said in her presentation, Monday (26/9).
Meanwhile, when viewed from the type of tax, this slowdown was influenced by the decline in the performance of Value Added Tax (VAT) revenue in August 2022, which fell when compared to the performance in July 2022.
In August, domestic VAT revenue only grew 24.8%, down when compared to domestic VAT revenue in July 2022 which grew 70.6%.
Whereas domestic VAT revenue contributes up to 21.4% of total tax revenue.
Similar conditions also occur in revenue performance for other types of taxes. For example, Income Tax Article (ITA) 21 which grew only 27.2% in August, down from July which grew 29.4%.
Likewise, ITA 22 on imports grew 35.7% in August or decreased from July's growth of 53.7%. Meanwhile, the growth of corporate income tax revenue only slightly decreased from 121.9% in July to 121.7% in August 2022.
However, the share provided by Corporate Income Tax is the largest compared to other types of taxes, which is 21.7% of total tax revenue.