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Jakarta Post
The Jakarta Post
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Tax income reaches 71% of full-year target in first 10 months

  • News Desk
    News Desk

    The Jakarta Post

Jakarta | Fri, November 9, 2018 | 03:27 pm
Tax income reaches 71% of full-year target in first 10 months Finance Minister Sri Mulyani Indrawati (Antara/Sigid Kurniawan)

Tax revenue collected from January to October amounts to 1.02 quadrillion (US$69.21 billion), which is 71.32 percent of the full-year target.

“[The amount collected] is small compared to the potential [revenue], if we look at the ratio, which is lower than 15 percent,” Finance Minister Sri Mulyani Indrawati said on Friday, as reported by kontan.co.id.

However, the figure was 17.41 percent higher than the tax revenue in the corresponding period of last year, which was recorded at 856.08 trillion.

Tax Office data show that income tax excluding the oil and gas sector contributed Rp 539.20 trillion to the total, value added tax (PPN) and value added tax for luxury goods (PPnBM) contributed a further Rp 404.54 trillion, land property tax (PBB) contributed Rp 17.88 trillion and income tax from the oil and gas sector (PPh migas) added Rp 54.04 trillion.

Meanwhile, the ministry’s director general of taxation, Robert Pakpahan, expressed optimism that his office could  collect 95 percent of the total tax collection target by the end of 2018. “Ninety-five percent of the state budget target [would be] Rp 1.35 quadrillion,” he said.

The Tax Office's tax collection target for this year is Rp 1.42 quadrillion.

However, he said his office would not take any additional measures to achieve the 95 percent of the target. “No, we will not make any [additional] push. Just let it be. We also have no targets for specific sectors,” he said, adding that the major tax contributors were trade, finance and mining. (bbn)

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