JAKARTA. Tax authority started pursuing taxation revenues from the sectors of property and mining, mainly mineral and coal industries. Tax authority sees the increase in taxation revenues from the sector of non-oil and gas. As of Thursday (27/10), the realization of non-oil and gas taxation just amounted to IDR825.26 trillion, or only 62.5% of the IDR1,318.9 trillion of target set under 2016 Revised State Budget. Government expects that the tax revenues of non-oil and gas sector will just amount to IDR1,105.8 trillion by the end of 2016. In other words, Indonesia will have an IDR213.1 trillion of shortfalls in tax revenues by the end of this year. In order to achieve the minimum target of the tax revenues, tax authority has to obtain IDR280.54 trillion. Minister of Finance Sri Mulyani said that mineral and coal sectors have excessive potentials of tax revenues. However, those sectors still have less contribution to the total amount of tax revenues. Minister Sri Mulyani on Wednesday (25/10) night held a meeting with 200 businessmen of oil, gas, mineral, and coal sectors. During the meeting, the businessmen admitted the low tax payment due to the sluggish business following the decrease in the global price. However, Minister Sri Mulyani claimed that the businessmen had less compliance with tax obligations when the prices of commodities were high five years ago.
Tax authority targets mining and property sectors
JAKARTA. Tax authority started pursuing taxation revenues from the sectors of property and mining, mainly mineral and coal industries. Tax authority sees the increase in taxation revenues from the sector of non-oil and gas. As of Thursday (27/10), the realization of non-oil and gas taxation just amounted to IDR825.26 trillion, or only 62.5% of the IDR1,318.9 trillion of target set under 2016 Revised State Budget. Government expects that the tax revenues of non-oil and gas sector will just amount to IDR1,105.8 trillion by the end of 2016. In other words, Indonesia will have an IDR213.1 trillion of shortfalls in tax revenues by the end of this year. In order to achieve the minimum target of the tax revenues, tax authority has to obtain IDR280.54 trillion. Minister of Finance Sri Mulyani said that mineral and coal sectors have excessive potentials of tax revenues. However, those sectors still have less contribution to the total amount of tax revenues. Minister Sri Mulyani on Wednesday (25/10) night held a meeting with 200 businessmen of oil, gas, mineral, and coal sectors. During the meeting, the businessmen admitted the low tax payment due to the sluggish business following the decrease in the global price. However, Minister Sri Mulyani claimed that the businessmen had less compliance with tax obligations when the prices of commodities were high five years ago.