Indonesia's Ministry of Finance (Kemenkeu) has announced that the country's total tax collection, including goods and services tax (PPN), reached Rp221.3 trillion as of September 2022. This significant milestone marks a substantial increase from the same period last year.
A closer look at the data reveals that PPN revenue grew by an impressive 20.5% year-over-year, exceeding expectations. Conversely, excise duties collected stood at approximately Rp85.1 trillion, also showing a notable surge of around 15.6% compared to the previous year.
The substantial growth in tax collection is attributed to a combination of factors, including increased economic activity and the government's efforts to enhance tax compliance. The Indonesian government aims to use these revenues to fund essential public services and infrastructure development projects.
Notably, the growth rate of PPN revenue far exceeds the government's original projection, indicating a strong recovery in the country's economy. However, critics argue that the high growth rate may be skewed by exceptional circumstances, such as one-time tax payment from certain industries.
Overall, the significant increase in tax collection underscores the Indonesian government's commitment to fiscal discipline and its efforts to stimulate economic growth.
A closer look at the data reveals that PPN revenue grew by an impressive 20.5% year-over-year, exceeding expectations. Conversely, excise duties collected stood at approximately Rp85.1 trillion, also showing a notable surge of around 15.6% compared to the previous year.
The substantial growth in tax collection is attributed to a combination of factors, including increased economic activity and the government's efforts to enhance tax compliance. The Indonesian government aims to use these revenues to fund essential public services and infrastructure development projects.
Notably, the growth rate of PPN revenue far exceeds the government's original projection, indicating a strong recovery in the country's economy. However, critics argue that the high growth rate may be skewed by exceptional circumstances, such as one-time tax payment from certain industries.
Overall, the significant increase in tax collection underscores the Indonesian government's commitment to fiscal discipline and its efforts to stimulate economic growth.