2022 Tax Revenue Has Exceeded Target

Indonesia's Foreign Debt

Tax revenue in 2022 has exceeded the target. Currently, the taxes collected are almost IDR 1,600 trillion. This figure means that this year’s tax revenue target, according to Presidential Regulation (Perpres) 98/2022, worth IDR 1,485 trillion, has been exceeded.

Director General of Taxes Suryo Utomo explained, “Today, IDR 1,580 trillion, if I’m not mistaken, is almost IDR 1,600 trillion,” said Suryo at the DGT 2022 World Anti-Corruption Day event, Tuesday (6/12/2022).

This achievement was following estimates because in October 2022 tax revenues had reached IDR 1,448.2 trillion or 97.5 percent of the target. If you calculate the average monthly achievements, the target will be exceeded at least in November 2022.

Even so, the Director of Counseling, Services, and Public Relations of the Directorate General of Taxes, Neilmaldrin Noor, said that the figures submitted by Suryo were not final. According to him, this figure is a prognostic calculation of the 2022 revenue outlook submitted by the Minister of Finance Sri Mulyani Indrawati.

“The realization of tax revenue for 2022 is not final because it is still influenced by refunds and so on. The achievement of tax revenue for 2022 will be conveyed by the Minister of Finance at our State Budget press conference,” said Neil quoted on Tuesday (6/12/2022) evening.

According to him, the directorates at the Directorate General of Taxes are still analyzing business sectors that have contributed to revenue achievements so far. It also analyzes which sectors still need incentive support.

Based on the realization as of October 2022, domestic value-added tax (PPN DN) is the main contributor, namely 22.6 percent of overall tax revenue. Underneath there is a corporate or corporate income tax (PPh) component with a contribution of 20.6 percent.

From a growth perspective, corporate income tax receipts in January-October 2022 experienced a growth of 110.2 percent (year-on-year/YoY), or the highest. The reason is that the payment of corporate income tax installments and the payment of tax assessments take place in that period.