Up to April 2023, Tax Revenue Reached 40.55% of Target

Wednesday, 24 May 2023

Up to April 2023, Tax Revenue Reached 40.55% of Target

JAKARTA. The Minister of Finance Sri Mulyani released the realization of tax revenue until April 2023 of IDR 688.15 trillion or 40.55% of the target set in the 2023 State Budget.

When compared to the same period in 2022, the realization increased by 21.3%. Thus, there was a slowdown, because last year tax revenue until April recorded a growth of 51.4%.

In detail, the tax revenue consisted of Non-Oil and Gas Income Tax of IDR 410.92 trillion, Oil and Gas Income Tax of IDR 32.33 trillion, Value Added Tax (VAT) and Sales Tax on Luxury Goods (STLG) of IDR 239.98 trillion, Land and Building Tax and other taxes of IDR 4.92 trillion.

This tax revenue is also still supported by the processing industry with a contribution of 27.4%, the realization increased by 9.5%.

Then the trade sector with a contribution of 19.8%, rose 5.8%. Meanwhile, the mining sector with a contribution of 14.8% only grew 63.8% or far slower than last year's growth in the same period of 258.8%.

Meanwhile, the financial services and insurance, construction and real estate, transportation and warehousing, corporate services and information and communication sectors also recorded positive growth.

Sri Mulyani revealed that government must be aware of the impact of normalization of commodity prices and global economic volatility which will have a negative impact on revenue.

For this reason, a number of anticipatory steps have been prepared, including encouraging domestic economic growth and ensuring that the implementation of Law Number 7 of 2021 on Harmonization of Tax Regulations (HPP) runs effectively and optimally. (ASP/KEN)


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