The State Budget (APBN) target for revenue was set at Rp1,846.1 trillion.
"The figure is up 32 percent compared to last year. There was 37-percent growth in February, and now it's 32 percent. This growth has weakened slightly, but it is still quite high," she noted at a press conference on the State Budget KiTA here on Wednesday.
The state revenue was obtained from tax revenues of Rp401.8 trillion, which increased 38.4 percent from Rp290.4 trillion in March 2021, and Non-Tax State Revenues (PNBP) of Rp99.1 trillion.
The revenues came from tax revenues of Rp322.5 trillion, which increased 41.4 percent from Rp228.1 trillion in the corresponding period of last year, and the revenue from customs increased by 27.3 percent to Rp79.3 trillion from Rp62.3 trillion.
The tax revenue realization, which reached 25.49 percent of the target of Rp1,265 trillion, included non-oil and gas income tax (PPh) of Rp172.09 trillion, or 27.16 percent of the target, as well as value added tax (VAT) and sales tax on luxury goods (PPnBM) of Rp130.15 trillion, or 23.48 percent of the target.
Land and building taxes (PBB) and other taxes of Rp2.29 trillion, or 7.69 percent of the target, as well as oil and gas income tax (PPh) of Rp17.94 trillion, or 37.91 percent of the target, also contributed to the tax revenue.
The realization of tax revenue up to March was supported by the recovery of the economy, which was reflected by the good and expansive Manufacturing Purchasing Managers’ Index (PMI), commodity prices, as well as exports and imports.
The growth in tax revenue in March was due to the low-base effect from March 2021 and a partial shift in revenue from February to March, wherein the last three days of February were holidays.
This growth was also due to increased imports and the Voluntary Forgiveness Program (PPS). If there is no shift in holidays, then revenue in February grew by 22.3 percent and March grew by 45.4 percent.
Meanwhile, customs revenue, which reached 32.4 percent of the Rp245-trillion target, came from import duty growth of 39.2 percent and the trade and processing sector.
Related news: State revenues rise 37.7% to Rp302.4 trillion in Feb
The customs revenue was also driven by excise tax growth of 15.6 percent thanks to the implementation of excise policies and the effectiveness of supervision as well as the relaxation of restrictions on community activities (PPKM) and the improvement in the hotel sector, including tourism.
Export duties, which grew by 132.2 percent, also boosted customs revenue, in line with rising prices of crude palm oil (CPO) products as well as increased prices and volumes of copper exports.
Meanwhile, the Non-Tax State Revenue (PNBP) of Rp99.1 trillion, which increased 11.8 percent compared to Rp88.6 trillion in the previous year and was 29.5 percent of the Rp335.6-trillion target, was supported by an increase in revenue from Separated State Assets ( KND). Revenue from KND grew 0.4 percent as of March from the State Budget target thanks to dividend payment by one of the state-owned banks.
Related news: Indonesia's tax revenues surpassed target until Dec 26: Mulyani
Translator: Katriana
Editor: Rahmad Nasution
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