State revenue up 0.6pct on-year in Q1: deputy minister

23-Apr-2021 Intellasia | AntaraNews | 5:02 AM Print This Post

Deputy minister of Finance, Suahasil Nazara, has reported that Indonesia’s state revenues grew 0.6 percent in the quarter ended March, 2021 (Q1) to reach Rp378.8 trillion from Rp376.4 trillion recorded in the year-ago period.

Revenue realisation was 21.7 percent of the target of Rp1,743.6 trillion set under the State Budget APBN, he said.

Tax revenues fell 5.6 percent compared to the corresponding period of last year, but customs and excise reached Rp62.3 trillion, up 62.7 percent compared to Rp18.6 trillion in the year-ago period, he disclosed at an online press conference here on Thursday.

Tax revenues in the quarter ended March, 2021 experienced a contraction of 5.6 percent year-on-year, as realisation reached Rp228.1 trillion, or 18.6 percent of the Rp1,229.6 trillion target.

The contraction was due to non-recurrence of transactions compared to last year, and the use of fiscal incentives, such as accelerated restitutions, Nazara explained.

Revenue from customs and excise in the first quarter of this year increased 62.7 percent year-on-year to reach Rp62.3 trillion, or 29 percent of the target of Rp.215 trillion stated in the State Budget, he informed.

Customs and excise revenues came from, among other things, import duties, which contracted by 3.6 percent because domestic demand was not maximised compared to the same period last year, especially in the fields of trade, construction, and mining, he said.

Excise tax revenues grew by 70.1 percent driven by growth in tobacco excise (CHT), which was influenced by the abundance of excise ribbon credit repayments from 2020 to 2021, he added.

Export duties rose 534.8 percent, driven by exports of copper and palm oil products, the deputy minister informed.

Meanwhile, non-tax state revenues (PNBP) and grants reached Rp88.4 trillion, or 29.6 percent of the Rp299.1 trillion target. Compared to the year-ago period, they contracted 8.4 percent as the prices of those commodities were not as high as last year, Nazara explained.

https://en.antaranews.com/news/173106/state-revenue-up-06-on-year-in-q1-deputy-minister

 

Category: Indonesia

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