With only four months left of 2018, tax collection has reached Rp 760.57 trillion (US$52 billion), or 53.41 percent of the government’s total annual tax revenue target, according to the Taxation Directorate General.

The office estimates that it will collect Rp 1.35 quadrillion by the end of the year, lower than the target of Rp 1.42 quadrillion stated in the 2018 state budget, according to a press release issued by the office on Thursday.

The figure is based on data collected up to Aug. 20 and represents a 15.49 percent year-on-year (yoy) growth, Taxation Director General Robert Pakpahan said during a press conference at Soekarno-Hatta International Airport on Thursday.

With a growth of 29.75 percent and 13.08 percent yoy, respectively, the trade and manufacturing sectors were the two biggest contributors to the tax revenue, Robert said.

The tax office also recorded a 26.85 percent yoy growth in value-added import tax, 22.24 percent yoy growth in institutions’ income tax (PPh Badan), 15.57 percent yoy growth in individual income tax and 9.94 percent yoy growth in domestic value-added tax. (bbn)