Income declined by 13.7 percent (yoy) as compared to the corresponding period in 2019, at Rp1,342.25 trillion, which grew 2.25 percent from September 2018, according to Finance Minister Sri Mulyani Indrawati.
"Income is still in accordance with what we projected. Indeed, it is under pressure since business and tax payments are under pressure," Indrawati remarked at the State Budget press conference in Jakarta, Monday.
The minister noted that state revenue fell owing to tax revenue contraction by up to 14.1 percent (yoy), specifically Rp892.4 trillion, or 63.5 percent of the target of revisions to the state budget in Perpres 72 of 2020 of Rp1,404.5 trillion.
The minister expounded that tax revenues comprised Rp750.6 trillion, which was 62.6 percent of the targeted Rp1,198.8 trillion in Perpres 72 of 2020 and contracted by 16.9 percent (yoy) as compared to Rp902.79 trillion during the corresponding period in 2019.
The negative growth in tax revenue occurred since the realization of its components experienced a contraction, specifically oil and gas income tax of Rp23.6 trillion, or 74.2 percent of the targeted Rp31.9 trillion, and dropped to 45.3 percent, from Rp43.2 trillion during the corresponding period last year.
Realization of non-oil and gas taxes reached Rp727 trillion, or 62.3 percent of the target set in Perpres 72 of 2020, specifically Rp1,167 trillion, also contracting by 15.4 percent to Rp859.6 trillion as compared to September 2019.
Meanwhile, the realized customs and excise revenues of Rp141.8 trillion, or 68.9 percent of the targeted Rp205.7 trillion, were able to grow 3.8 percent (yoy) as compared to Rp136.7 trillion during the corresponding period in 2019.
The positive growth in customs and excise revenues was supported by the realization of excise reaching Rp115.3 trillion, or 7.2 percent higher than September last year and was 67 percent of the target outlined in Perpres 72 of 2020 of Rp172.2 trillion.
However, international trade tax on excise contracted by nine percent, specifically the realization was recorded at Rp26.5 trillion, or 79.1 percent of the target of Rp33.5 trillion set in Perpres 72 of 2020.
Furthermore, state revenue was also supported by the realization of Non-Tax State Revenues (PNBP), which until September 2020, had amounted to Rp260.9 trillion, or 88.7 percent of the target of Rp294.1 trillion in Perpres 72 of 2020.
The PNBP realization entered the negative territory, specifically 13.6 percent, as compared to Rp301.82 trillion during the corresponding period last year.
On the other hand, state revenue from grants experienced a notable rise of 483.9 percent as compared to the same period last year, from Rp0.97 trillion to Rp5.7 trillion.
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