This is an extraordinary increase compared to last year. (Tax receipts) increased last year and moved up further this year.Jakarta (ANTARA) - Indonesia's tax receipts swelled by 53.58 percent year on year to reach Rp705.82 trillion in the year ended May 31, 2022, Finance Minister Sri Mulyani Indrawati has informed.
"This is an extraordinary increase compared to last year. (Tax receipts) increased last year and moved up further this year," she said at an online press conference on the state budget here on Thursday.
The tax receipts in the first five months of 2022 represented 55.8 percent of the target set in the 2022 state budget, she informed.
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The tax receipts comprised income tax on non-oil/non-gas production of Rp418.70 trillion or 66.09 percent of the target, value-added tax and luxury sales tax of Rp247.82 trillion or 44.70 percent of the target, land and building tax and other taxes of Rp3.26 trillion or 10.97 percent of the target, and income tax on oil and gas production of Rp36.04 trillion or 76.8 percent of the target.
She said the tax receipts increased as the economy began to show signs of recovery, which pushed consumption, investment, and exports. As a result, they contributed positively to tax receipts.
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In addition, increasing commodity prices and suspended tax incentives also added to the tax receipts until May 2022, she informed.
However, the tax receipts in May 2022 only grew 43.5 percent year on year compared to 60.1 percent year on year the previous month, she said.
“So, we cannot make an assumption that tax receipts will continue to grow by double digits and the growth will be very high,” she added.
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Translator: Sanya Dinda S, Suharto
Editor: Fardah Assegaf
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