Tax Revenue as of February Contracts 3.9%

JAKARTA. The realization of tax revenue until the end of February 2024 contracted by 3.9% or only recorded at IDR 269.02 trillion.

Quoting Kontan.co.id, the realization is equivalent to 13.53% of the tax revenue target set in the 2024 State Budget (APBN).

This was conveyed by Finance Minister Sri Mulyani in her presentation when attending the Joint Meeting of Commission XI of the House of Representatives of the Republic of Indonesia (DPR RI), on Tuesday (19/3). 

Nevertheless, Sri Mulyani stated that tax revenue until February on a gross basis still recorded positive achievements. "We still have hope that our economy will be improving and stable and relatively positive and this contributes to tax revenue," said Mrs. Indrawati.

Furthermore, in detail, tax revenue during January-February 2024 consisted of non-oil and gas income tax of IDR 147.26 trillion, Value Added Tax (VAT) and Sales Tax on Luxury Goods (STLG) of IDR 108.48 trillion, Land and Building Tax (PBB) and Other Taxes of IDR 2.02 trillion and Oil and Gas Income Tax of IDR 11.25 trillion. 

Meanwhile, overall state revenue until the end of February 2024 was recorded at IDR 493.2 trillion, 17.6% of the 2024 State Budget target.  

On the other hand, the realization of state expenditure until the end of February 2024 was recorded at IDR 470.3 trillion. Thus, the 2024 State Budget as of the end of February recorded a surplus of IDR 122.9 trillion. (ASP)