2018 state budget revenue reaches 102.5 percent: Finance Minister

2018 state budget revenue reaches 102.5 percent: Finance Minister

Finance Minister Sri Mulyani Indrawati ANTARA FOTO/Dhemas Reviyanto/nz.

Jakarta, (ANTARA News) - Finance Minister Sri Mulyani Indrawati has ensured that the realization of state revenues in the 2018 State Budget has reached Rp1,942.3 trillion, or 102.5 percent of the target of Rp1,894.7 trillion.

"This revenue realization grew 16.6 percent from 2017`s achievements," Indrawati stated at a news conference on the development of the 2018 State Budget in Jakarta on Wednesday.

She explained that this realization came from tax receipts of Rp1,315.9 trillion, customs and excise of Rp205.5 trillion, and non-tax state revenues (PNBP) of Rp407.1 trillion.

Tax revenues were supported by Rp686.8 trillion in Non-Oil Income Tax (PPh), Rp64.7 trillion in Oil and Gas PPh, and Rp538.2 trillion in Value Added Tax.

"This tax revenue grew 14.3 percent, or the highest growth since 2012, at 12.5 percent," she noted.

The achievement of tax realization is a combination of improving economic performance and increasing tax collection capacity as a result of improving the tax base, tax compliance, and tax intensification.

"The increase in consumption and imports illustrates the improvement in the economy of the household, corporation, and all community activities compared to last year," Indrawati revealed.

On this occasion, the tax ratio was recorded at 11.5 percent, an increase of 0.8 percent compared to 2017 due to the improved performance of tax reform.

Meanwhile, customs and excise realization was contributed by excise revenue of Rp159.7 trillion, import duty of Rp39 trillion, and export duty of Rp6.8 trillion.

Realized revenues grew 6.7 percent, supported by improving international trade activities, high-risk excise control, and customs and excise institutional reform.

Meanwhile, the realization of PNBP recorded a high growth since 2009, or 30.8 percent, due to the influence of rising oil and coal prices.

"The realization of PNBP is Rp407.1 trillion, or 147.8 percent of the target, which is higher than the PNBP in 2017 of 18.8 percent," Indrawati revealed.

Reporting by Satyagraha
Editing by Eliswan Azly