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In Early December, Tax Revenue Realization Has Exceeded the Target by 106%

Wednesday, 07 December 2022

In Early December, Tax Revenue Realization Has Exceeded the Target by 106%

JAKARTA. The Directorate General of Taxes (DGT) revealed that the realization tax revenue as of Tuesday (6/12) has reached IDR 1,580 trillion.

Meanwhile, this year's tax revenue target set in the revised State Revenue and Expenditure Budget (APBN), as stated in Presidential Regulation (Perpres) Number 98 of 2022, is 1,485 trillion.

This indicates that this year's tax revenue has been realized at a rate of 106.4% or higher than the predetermined target.

According to Bisnis.com, the revenue result was in line with DGT's previous projection. Additionally, the realization of tax income has reached IDR 1,448.2 trillion, or 97.5% of the target, by the end of October 2022 alone.

The Blessing of Rising Commodity Prices

Meanwhile, quoting CNBCIndonesia.com, DGT said that the achievement of the 2022 tax revenue target was inseparable from the impact of rising commodity prices.

Director General of Taxes Suryo Utomo said that the increase in commodity prices coupled with the economic improvement has strengthened the power to collect tax revenues. "Taxes are the effect of the economy that we run," said Suryo.

Read: Russian Invasion, Inflation, and Dilemma of Booming Oil Prices

In addition, according to Suryo, the achievement of tax revenue also indicates the level of public trust in the institution he leads can be maintained properly.

Supporting Policy

Another factor affecting tax revenue in 2022 is the provision of tax incentives, such as the government-borne Income Tax Article (ITA) 21 facility which is able to boost people's purchasing power during the pandemic.

Likewise, the incentives are given to companies in the form of delaying the payment of ITA 25.

Several policies, such as increasing the Value Added Tax (VAT) rate, appointing companies that carry out trade activities through the electronic system (PMSE), to collect VAT to taxation on the digital economy have also contributed to this year's tax revenue.



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