National Economic Recovery Program Update
REVENUE COLLECTION CONTINUED TO STRENGTHEN
Supported By High Commodity Prices, Stronger Economic Activity And Gain From The Recent Tax Reforms
Strong Recovery in Revenue Collection
Tax Revenue for January - December
(IDR Tn)
1.5%
19.3%
34.3%
-19.6%
1,716.8
1,332.7
1,278.6
1,072.1
2019
2020
2021
2022
Realization
Growth (y-o-y)
Performance (cumulative growth y-o-y)
L
The strong tax revenue collection in January-Dec 14th 2022 was largely
contributed by:
■ The trend of increasing commodity prices;
Expansive economic growth;
Low base in 2021 due to fiscal incentives;
Impact of the implementation of the HPP Law.
■ The best performing sectors in the economy (i.e. manufacturing, trade, and
mining) are also translated into the tax revenue and recorded the highest
growth among sectors.
■ Much improved economic recovery and activities are also reflected in all
sectors of tax receipts, which significantly grew higher compared to the same
period last year.
Strong Performance In Tax Collection Across Sectors
Jan- Dec 2021
Jan-Dec 2022
113.6%
60.5%
24.6%
31.8% 37.3%
18.2%
7.1%
2.1%
24.7%
10.4%
14.6% 6.0%
16.6%
3.4%
-0.1%
Manufacturing
Trade
Finance
Mining
-13.5%
Construction
Transportation
Information &
Communication
Business Services
Share
28.7%
23.8%
10.6%
8.3%
4.1%
3.9%
3.6%
3.0%
Source: Ministry of Finance
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