KONTAN.CO.ID - JAKARTA. The weakening of public purchasing power has also affected tax revenue in January 2024. The Ministry of Finance (Kemenkeu) recorded tax revenue realization in January 2024 amounting to IDR 149.25 trillion. This figure is equivalent to 7.50% of the 2024 State Budget (APBN) target. However, the realization of this tax revenue contracted by 8% year on year (YoY). In fact, in January 2023, tax revenue realization still grew by 6.4% YoY. Executive Director of Pratama-Kreston Tax Research Institute (TRI) Prianto Budi Saptono said that domestic value-added tax (VAT DN) was the largest contributor to tax revenue in January 2024, reaching 23.9% of total tax revenue.
Indonesia's Purchasing Power Weakens, Tax Payments Also Fall in January 2024
KONTAN.CO.ID - JAKARTA. The weakening of public purchasing power has also affected tax revenue in January 2024. The Ministry of Finance (Kemenkeu) recorded tax revenue realization in January 2024 amounting to IDR 149.25 trillion. This figure is equivalent to 7.50% of the 2024 State Budget (APBN) target. However, the realization of this tax revenue contracted by 8% year on year (YoY). In fact, in January 2023, tax revenue realization still grew by 6.4% YoY. Executive Director of Pratama-Kreston Tax Research Institute (TRI) Prianto Budi Saptono said that domestic value-added tax (VAT DN) was the largest contributor to tax revenue in January 2024, reaching 23.9% of total tax revenue.