State tax revenues throughout this month have reached Rp. 112.39 trillion or in line with the first quarter trend. This makes tax revenues, until this date, have covered 53.04 percent of the 2022 target.
Special Staff of the Minister of Finance for Tax Compliance Yon Arsal explained that in the first four months the trend of tax revenue was recorded to be consistent. In fact, in April 2022, tax revenues jumped to Rp. 245.2 trillion, while previously the monthly income was in the range of Rp. 90 — 120 trillion.
More specifically, tax revenue until May 26, 2022, was recorded at Rp. 679.99 trillion or has reached more than half of this year’s tax revenue target, which is Rp1,265 trillion.
“In general, this tax revenue is consistent, both in terms of sectoral and type of tax. This is a reflection of how our economy has started to improve, not only driven by natural resources [commodity price increases], other sectors such as trade are already quite strong,” said Yon. in the Media Briefing of the Directorate General of Taxes, Friday (27/5/2022) in Jakarta.
Furthermore, non-oil and gas income tax (PPh) revenue until yesterday was recorded at IDR 416.48 trillion, while oil and gas PPh reached IDR 36.03 trillion. Value-added tax (VAT) and sales tax on luxury goods (PPnBM) reached Rp. 224.27 trillion, then land and building tax (PBB) and other taxes reached Rp. 3.21 trillion.
He said that improving economic conditions could support higher tax revenues this year. This can support fiscal consolidation measures, in which 2022 will be the last year for the State Budget to record a deficit of more than 3 percent.
Previously, Finance Minister Sri Mulyani Indrawati said that high commodity prices would greatly affect tax revenue in early 2022. This factor further magnified the effect of rising domestic demand.
Sri Mulyani at the State Budget KiTa press conference, Monday (23/5/2022), said, “Tax revenues increased partly due to commodity [high prices], partly due to economic recovery, expansionary economic growth, and domestic demand continued to improve.”