Indonesia books double digit tax growth in first four months
JAKARTA (The Jakarta Post/ANN) - Indonesia booked double-digit tax revenue growth in April boosted by growth in import taxes as well as corporation tax.
Indonesia booked double-digit tax revenue growth in April boosted by growth in import taxes as well as corporation tax.
Tax revenue, which includes income tax from oil and gas, value added tax (PPn), property tax (PBB) and luxury goods tax (PPnBM), was Rp 383.3 trillion (US$ 27.23 billion) from January to April.
The tax revenue grew by 14.08 percent year-on-year (yoy) compared to the same period last year if the revenue from the tax amnesty is excluded.
The government collected Rp 12 trillion in penalties as part of the tax amnesty, which ended in March 2017.
“We monitor the tax revenue on a monthly basis and this still shows robust growth,” said Finance Minister Sri Mulyani Indrawati in Jakarta on Thursday.
Double-digit growth was recorded in almost all tax types, with the income tax from imports (pph 22 impor) recording 28.98 percent yoy growth during the first four months of this year to Rp 18.06 trillion. PPn on imports brought in Rp 56.14 trillion over the same period, up by 25.07 percent yoy.
The high growth in import taxes was in line with the surging imports recorded in the recent trade balance statistics released by the Central Statistics Agency (BPS), Sri Mulyani Indrawati said.
Imports grew by 34.68 percent yoy on April to $16.09 billion, above $14.47 billion exports that was recorded over the same period, according to BPS data.
Corporation tax, meanwhile, grew by 23.55 percent yoy to Rp 90.47 trillion.