Indonesia's first-semester tax receipts reach Rp603.34 trillion

Indonesia's first-semester tax receipts reach Rp603.34 trillion

Finance Minister Sri Mulyani spoke to the press at the Head Office of the Directorate General of Taxation in Jakarta on Monday (July 15, 2019). (ANTARA News/Fathur Rochman/Suharto)

Jakarta (ANTARA) - Indonesia's tax receipts in the first half of 2019 reached Rp603.34 trillion, accounting for 38.25 percent of the target of Rp1,577.56 trillion set in the 2019 state budget, Finance Minister Sri Mulyani Indrawati revealed

Income tax (PPh) remained the main source of tax receipts until the end of the first semester of this year, contributing Rp376.32 trillion to the overall tax receipts, she said in Jakarta Tuesday.

This was followed by tax receipts from the non-oil/non-gas sector with Rp346.16 trillion, value added tax (PPN) and luxury sales tax (PPnBM) with Rp212.32 trillion, tax receipts from the oil and gas sector with Rp30.16 trillion, and the land and building tax (PBB) and other taxes with Rp14.70 trillion.

Compared to the same period last year, the tax receipts in the first half of this year rose 3.75 percent (year-on-year). The figure rose as compared to the January - May 2019 period when it was recorded at 2.43 percent (y-o-y), she said.

The increase resulted from the monthly tax receipts in June 2019 which reached double digits to 10.35 percent y-o-y compared to June 2018, she said.

Overall, tax receipts had the chance to increase in the second semester of this year, she said.

After tax receipts recorded net growth due to a surge in tax refunds in February and March 2019, tax receipts at the end of the first semester of 2019 showed signs of recovery as the growth of tax refunds returned to normal, she said.

The positive development of the US-China trade war and the resolution of the 2019 general election results will hopefully have a positive impact on tax receipts, she went on to say.

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