State revenue records 16.7% year-on-year decline in 2020

State revenue records 16.7% year-on-year decline in 2020

Minister of Finance, Sri Mulyani Indrawati. (ANTARA/HO-Kemenkeu/Faiz/pri)

Jakarta (ANTARA) - As of December 31, 2020, state revenue realization reached Rp1,633.6 trillion, or 96.1 percent of the revised state budget (APBN) target of Rp1,699.9 trillion, set under Presidential Decree 72/2020, Finance Minister Sri Mulyani Indrawati said.

The figure showed a decline of 16.7 percent (yoy) compared to 2019, when the revenue realization was pegged at Rp1,960.6 trillion.

“Previously, we revised Rp2,233.2 trillion to Rp1,699.9 trillion, and the realization was Rp1,633 trillion. Our national income contracted 16.7 percent, or decreased by Rp327 trillion, compared to last year; or, when compared to the initial design of APBN, it decreased by Rp599.6 trillion,” he informed at the KiTA State Budget press conference in Jakarta on Wednesday.

State revenue fell because tax revenue contracted by 19.7 percent (yoy) to reach Rp1,070 trillion, or 89.3 percent of the revised APBN target of Rp1,198.8 trillion set under Presidential Decree 72/2020, Sri Mulyani informed.

The negative growth in tax revenue occurred because all of its components experienced a contraction, namely income tax (PPh) from oil and gas was pegged at Rp33.2 trillion, or 104.1 percent of the Rp31.9 trillion target. It also showed a decline of 43.9 percent compared to the same period last year, when the figure was recorded at Rp59.2 trillion.

The realization of non-oil and gas taxes was pegged at Rp1,036.8 trillion, or 88.8 percent of the target of Rp1,167 trillion under Perpres 72/2020. It contracted 18.6 percent compared to 2019, when the figure was recorded at Rp1,273.5 trillion.

Non-oil and gas tax contracted 18.6 percent due to income tax (PPh) revenue from non-oil and gas reaching Rp560.7 trillion, or 87.8 percent of the Rp638.5 trillion target. It showed a contraction of 21.4 percent compared to 2019, when the figure was recorded at Rp713.1 trillion.

Value added tax (VAT) also experienced a 15.6-percent contraction with the revenue reaching Rp448.4 trillion compared to Rp531.6 trillion last year. However, it reached 88.4 percent of the Rp507.5 trillion target.

For land and building tax, which is a component of non-oil and gas taxes, the realization was Rp21 trillion, or 155.9 percent of the Rp13.4 trillion target. But it still contracted 0.9 percent compared to last year’s realization of Rp21.1 trillion.

Other taxes that were also included in the non-oil and gas tax component also contracted by up to 11.7 percent as the realization was only Rp6.8 trillion compared to 2019, when the figure was recorded at Rp7.7 trillion, but it covered 90.6 percent of the Rp7.5 trillion target.

Meanwhile, the realization of customs and excise revenues was Rp212.8 trillion, or 103.5 percent of the target of Rp205.7 trillion, but still contracted by 0.3 percent (yoy) compared to the same period in 2019, when the figure was pegged at Rp213.5 trillion.

The negative growth in customs and excise revenues occurred because the international trade tax grew by minus 11.1 percent to Rp36.5 trillion, compared to Rp41.1 trillion in 2019, but reached 108.9 percent of the target of Rp33.5 trillion.

The international trade tax included import duties of Rp32.3 trillion, or 101.3 percent of the target of Rp31.83 trillion set under Presidential Decree 72/2020, showing a 14-percent contraction compared to the same period last year, when the figure was recorded at Rp37.5 trillion.

The realized import duty reached Rp26.39 trillion, or 82.9 percent of the target of Rp31.83 trillion in the Presidential Decree 72/2020, or showed a contraction of 12.49 percent compared to the same period last year, when the figure was pegged at Rp30.16 trillion.

Meanwhile, export duties experienced a positive growth of 19.5 percent, with realization reaching Rp4.2 trillion compared to Rp3.5 trillion last year, or 255 percent of the target of Rp1.7 trillion set under Presidential Decree 72/2020. (INE)

Related news: Indonesia booked Rp1,159 trillion in state revenue till September 2020
Related news: State revenue breaches Rp1,000-trillion mark as of Aug


EDITED BY INE

 

 

 

Comments