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May records Rp 685t revenue, Rp 94.43t deficit
The Finance Ministry has announced that in May, the government managed to reap Rp 685.09 trillion (US$48.33 billion) in state revenue, mainly supported by a greater collection in non-oil and gas income taxes and value-added taxes.
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Finance Minister Sri Mulyani Indrawati (Antara/Sigid Kurniawan)
T
he Finance Ministry has announced that through May, the government had reaped Rp 685.09 trillion (US$48.33 billion) in state revenue, mainly supported by a greater collection in non-oil and gas income taxes and value-added taxes.
In May alone, state revenue grew by 13.29 percent compared to the figure in April.
Finance Minister Sri Mulyani Indrawai, however, said the government still faced tough fiscal challenges, as the budget deficit reached Rp 94.43 trillion in May. Meanwhile, she said government spending was Rp 779.51 trillion.
Meanwhile, taxes had contributed Rp 484.5 trillion to state revenue – a 14.13 percent year-on-year (yoy) increase – and 34.02 percent of the Rp 1.42 quadrillion targeted in the 2018 State Budget.
Sri Mulyani said non-oil and gas income taxes (PPh) and value-added taxes (PPN) were the major contributors to state revenue, respectively growing 14.25 percent and 16 percent yoy.
She explained the three income tax components, imports (Tax Law article 22), institutions (articles 25, 29) and individuals (articles 25, 29), respectively grew 30.27 percent, 26.97 percent and 20.51 percent from January to May.
“The positive performance in tax collection from a number of businesses indicate improvement in economic activities,” said Sri Mulyani as reported by kontan.co.id.
Meanwhile, May's oil and gas tax collection grew by 3 percent yoy, similar to the state budget target. (bbn)
