TEMPO.CO | FRIDAY, 11 SEPTEMBER, 2015
TEMPO.CO, Jakarta – The Ministry of Finance noted that new tax revenue until the end of August had reached 45.79 percent or Rp 592.577 trillion. This number dropped to Rp 13.54 trillion from last year’s revenues reached at Rp 606.126 billion.
This amount consisted of the realization of income tax from non-oil and gas reached at Rp 320.583 billion, Value Added Tax and Sales of Luxury Goods Tax Rp 231.929 trillion, Land and Building Tax Rp 663 trillion, other taxes at Rp 3.38 trillion, as well as oil and gas income tax of Rp 36.015 trillion.
Executive Director of the Indonesian Center for Tax Analysis, Yustinus Prastowo said the tax revenue is currently under pressure from the economic slowdown. The sluggish economyin the second half or third quarter shows on the realization of the decreasing Value Added Tax.
Therefore, fiscal sustainability, according to Yustinus, will be a crucial point of the realization of this tax. “If the shortfall is sharp, then the 2016 achievement will be more severe.” Moreover, the economic slowdown is expected to continue in 2016. Yustinus estimated tax revenues this year will be down about Rp 240-300 billion.
