The oil and gas income tax grew very high since the compensations for the third and fourth quarters of 2021 were paid in January 2022.Jakarta (ANTARA) - State revenue swelled 54.9 percent year-on-year (yoy) from Rp100.7 to Rp156.01 trillion in January this year, Finance Minister Sri Mulyani Indrawati informed at a press conference here on Tuesday.
“The y-o-y increase was very high since our state revenue still contracted by 4.2 percent in January 2021," she said.
In January 2022, state revenue accounted for 8.5 percent of the State Budget (APBN) revenue target of Rp1,846.1 trillion, she informed. It comprised tax revenues of Rp134.01 trillion and non-tax state revenues (PNPB) of Rp22 trillion, she said.
As much as Rp61.14 trillion of the tax revenue was sourced from non-oil and gas income tax revenues, Rp38.43 trillion from value-added tax and sales tax on luxury goods, Rp0.59 trillion from land and building tax and other taxes, Rp24.9 trillion from customs and excise revenues, and Rp8.95 trillion from oil and gas income tax revenue, she added.
Related news: Indonesia's tax revenues surpassed target until Dec 26: Mulyani
Out of all the tax revenues, oil and gas income tax revenues recorded the highest surge of 281.23 percent yoy from Rp2.35 trillion recorded in January 2021, she noted.
"The oil and gas income tax grew very high since the compensations for the third and fourth quarters of 2021 were paid in January 2022," the minister explained.
In addition, the high performance of tax revenues was supported by the positive economic recovery, shown by the improving purchasing managers' index (PMI), commodity prices, as well as increasing export and import activities, the minister said.
It was also supported by several non-recurring factors, including the low base effect in January 2021, which contracted 15.32 percent due to slow economic development, large coverage of tax incentives, and high restitution, she added.
Furthermore, implementation of the excise settlement policy, the custom relaxation policy for tourism destinations, high prices for exported palm oil products, as well as an increase in copper export volume also boosted revenues, Indrawati informed.
Meanwhile, the performance of PNBP revenues, which surged by 11.4 percent yoy, was supported by revenues from oil and gas commodities, which grew 281.8 percent yoy, as well as income from non-oil and gas goods, which increased by 26.9 percent yoy, she added.
Related news: Increase state revenue to meet needs of middle class: ministry
Related news: State revenue up 0.6% on-year in Q1: deputy minister
Translator: Astrid Habibah, Uyu Liman
Editor: Suharto
Copyright © ANTARA 2022
