As of September, 2023 Tax Revenue Only Grows 5.9%

Thursday, 26 October 2023

As of September, 2023 Tax Revenue Only Grows 5.9%

JAKARTA. The realisation of tax revenue until the end of September 2023 was recorded at IDR 1,387.78 trillion or grew 5.9% compared to the same period in 2022.

Thus, the trend of slowing tax revenue growth throughout 2023 continues. Although it has started to slope in the last four months.

Not only sloping, the performance of tax revenue in each month also shows improvement. This can be seen from the growth of monthly tax revenue that continues to increase.

In September 2023, tax revenue realisation was up 1.6% compared to August revenue, whereas August revenue growth contracted 3.8% compared to July 2023.

Revenue Normalisation

Minister of Finance Sri Mulyani stated that the cumulative tax growth trend until September 2023 is normalising. 

"There is a slowdown in growth, but it is estimated that until the end of the year tax revenue is still on track in relation to this year's tax revenue target," said Srimulyani.

The largest contributor to tax revenue still comes from Corporate Income Tax with a contribution of 24.2% and a growth rate of 21.2%.

Then, the second largest contributor to revenue was Domestic Value Added Tax (VAT) at 23.5%, which experienced a growth of 13.4%. The third was given by Income Tax Article (ITA) 21 with a contribution of 11.2% and recorded a growth of 17.2%. 

According to Sri Mulyani, the growth of ITA 21 reflects the condition of formal sector business activities. This is because ITA 21 is an employee tax. So that if there is growth, it shows the number of additional workers or an increase in wages. (ASP/KEN)


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