FINANCIAL FUNCTION OVERVIEW
A. TAX REVENUE
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Type of Tax
2022 2021 Realization
Growth 2021—2022 Target (%)
(billion Rp) Realization
(billion Rp) Percentage
(%) Realization (billion Rp)
Other Sales Tax on Luxury Goods 45.60 0.44 0.97 1.64 (72.82)
Sales Tax on Luxury Goods Borne by
the Government 0.00 1,111.30 100.00 4,916.28 (77.40)
Land & Building Tax 20,903.79 23,488.51 112.36 19,028.15 23.44
Other Taxes 11,381.89 9,040.16 79.43 11,953.29 (24.37)
Oil & Gas Income Tax 64,656.98 77,841.63 120.39 52,854.62 47.27
Total Gross Tax Revenue 1,484,957.99 1,997,175.67 134.49 1,474,757.85 35.42
Tax Refund 0.00 (280,411.88) 0.00 (196,103.39) 42.99
Total Including Oil & Gas Income Tax 1,484,957.99 1,716,763.79 115.61 1,278,654.46 34.26 Total Excluding Oil & Gas Income Tax 1,420,301.01 1,638,922.16 115.39 1,225,799.84 33.70 Source: DGT Financial Statements 2022 (Audited)
Source: DGT Financial Statements 2018—2022 (Audited) Net Tax Revenue Realization, 2018—2022
0 500 1,000 1,500 2,000
trillion rupiah
2018 2019 2020 2021 2022
1,313.32 1,332.66 1,072.11 1,278.65 1,716.76
1,248.61 1,273.49 1,039.08 1,225.80 1,638.92
Including Oil & Gas Income Tax Excluding Oil & Gas Income Tax
The elaboration of the gross tax revenue realization by type is as follows.
1. Income Tax Article 21
The revenue of Income Tax Article 21 amounted to Rp172.66 trillion, reaching 107.02 percent of the
by Covid-19 (results of the National Labor Force Survey of August 2022 by the Statistics Indonesia).
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2. Income Tax Article 22
3. Income Tax Article 22 on Import
The revenue of Income Tax Article 22 stood at Rp34.15 trillion, reaching 119.67 percent of the target of Rp28.53 trillion, and grew 39.01 percent compared to 2021. This increase was driven by the increase in tax payments from Mineral Coal Mining Commodity Exports followed by tax payments from Non-Treasurer Collectors, which grew by 114.69 percent and 300 percent, respectively. The largest increase occurred in the Trade and Mining sectors.
The revenue of Income Tax Article 22 on Import stood at Rp74.20 trillion, reaching 154.79 percent of the target of Rp47.94 trillion, and grew 83.32 percent compared to 2021. The increase was driven by the
increase in import which grew by 21.07 percent year on year, as well as the end of exemption incentive for certain Business Classification in 2021. The Trade and Manufacturing sectors showed the largest increase.
4. Income Tax Article 23
5. Income Tax Article 25/29 from Individuals
6. Income Tax Article 25/29 from Corporate
The revenue of Income Tax Article 23 stood at Rp50.09 trillion, reaching 111.95 percent of the target of Rp44.75 trillion, and grew 12.03 percent compared to 2021. The growth was supported by the increase of tax payments from Service, which grew by 27.20 percent, followed by periodic Installment and Interest payments, which grew by 18.45 percent and 9.47 percent, respectively. Sectorally, the largest increase occurred in the Mining, Trading, and Manufacturing sectors.
The revenue of Income Tax Article 25/29 from Individuals stood at Rp11.68 trillion, reaching 85.80 percent of the target of Rp13.61 trillion, and declined by 5.90 percent compared to 2021. The decrease was mainly due to the decrease in annual tax payments, which declined by 8.94 percent, and non-recurring tax payment from the Notice of Tax Underpayment
The revenue of Income Tax Article 25/29 from Corporate stood at Rp385.42 trillion, reaching 152.17 percent of the target of Rp253.28 trillion, and grew 53.94 percent compared to 2021. In general, the increase was driven by the improvement of business profitability due to the economic recovery and the upward trend in commodity prices. This is reflected by the increase in periodic tax payment, which grew by 51.10 percent, and annual tax payment, which grew up to 86.05 percent. Sectorally, the largest increase occurred in the Mining sector, which grew 154.78 percent due to the increase in mining commodity prices, followed by the Manufacturing and Trading sectors which grew 43.66 percent and 62.24 percent, respectively.
Assessment (SKPKB). Sectorally, 75.9 percent of payments of Income Tax Article 25/29 from Individuals were dominated by the Other Services sector with negative growth of 6.38 percent, followed by the Trading sector, which contributed 11.5 percent with negative growth of 16.30 percent.
7. Income Tax Article 26
The revenue of Income Tax Article 26 stood at Rp68.62 trillion, reaching 151.12 percent of the target
of Interest, Royalties, and Services, which grew positively. The largest increase in Income Tax Article
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9. Domestic VAT
The revenue of Domestic VAT stood at Rp610.86 trillion, reaching 154.45 percent of the target of Rp395.52 trillion with growth of 29.88 percent compared to 2021. The increase was driven by the expansionary economic growth and the upward trend in commodity prices. The achievement cannot be separated from the implementation of HPP
Law which includes the VAT rate adjustment to 11 percent, Crypto Tax, and VAT on Trading through Electronic System. Sectorally, the largest increase occurred in the Manufacturing sector and the Trading sector as the two largest contributors to the revenue of Domestic VAT, with growth of 20.07 percent and 28.59 percent, respectively.
8. Final Income Tax
The revenue of Final Income Tax stood at Rp166.82 trillion, reaching 114.61 percent of the target of Rp145.56 trillion, and grew 49.26 percent compared to 2021. The increase was mainly driven by the tax payment from PPS amounted to Rp61.01 trillion or reaching 37 percent of the total gross revenue of Final Income Tax. On the other hand, there was a decrease in the payment of Final Income Tax on Discount/Interest on Bonds and Interest on Deposits/Savings, which each contracted by 47.15 percent and 14.17 percent. This decrease was driven by the decrease in the Final Income Tax rate on bond interest and deposit/savings interest rates. In addition, a significant decrease also occurred in the payment of Notice of Tax Underpayment Assessment (SKPKB) by 76.19 percent. By sector, the largest increase in Final Income Tax occurred in the two sectors that contributed the most to the payment of PPS, namely the Other Services sector and the Trading sector, which grew by 649.58 percent and 167.65 percent, respectively. Meanwhile, the Financial Services sector still contracted with growth of 22.01 percent.
10. VAT on Import
11. Domestic Sales Tax on Luxury Goods
The revenue of VAT on Import stood at Rp270.72 trillion, reaching 119.05 percent of the target of Rp227.41 trillion, and grew 41.29 percent compared to 2021. The increase was in line with the increase in Indonesian import, which rose to 21.07 percent (y-o-y). By sector, the revenue from VAT on Import was supported by the Manufacturing sector (contribution of 47.81 percent) and the Trading sector (contribution of 47.44 percent) with growth of 19.06 percent and 73.71 percent, respectively.
The revenue of Domestic Sales Tax on Luxury Goods stood at Rp14.48 trillion, reaching 167.53 percent of the target of Rp8.65 trillion, and grew 195.13 percent compared to 2021. By sector, the revenue of Domestic Sales Tax on Luxury Goods was dominated by the Manufacturing Industry, especially the Motor Vehicle Industry (99.35 percent contribution) with growth of 218.73 percent. Such increase was in line with the increase in production and sales of motor vehicles. The increase in the revenue of Domestic Sales Tax on Luxury Goods also occurred in the Government Administration and Transportation sectors.
12. Sales Tax on Luxury Goods on Import
The revenue of Sales Tax on Luxury Goods on Import stood at Rp5.06 trillion, reaching 175.64 percent of the target of Rp2.88 trillion, and grew 50.13 percent compared to 2021. The increase was mainly due to the increase in tax payment from the Motor Vehicle Trading subsector (contribution of 89.42 percent) with growth of 47.43 percent and the Motor Vehicle Industry subsector (contribution of 6.45 percent) with growth of 82.94 percent. Such increase was in line with the increase in imports of motor vehicles (CBU) which grew 74.34 percent (y-o-y) as of December 2022.
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14. Other Taxes
The revenue of Other Taxes amounted to Rp9.04 trillion, reaching 79.43 percent of the target of Rp11.38 trillion, and declined by 24.37 percent compared to 2021. The decrease was mainly caused by the decrease in several main types of payments, such as Income Tax Collection Interest (negative growth of 51.39 percent), Stamp Duty (negative growth of 30.49 percent), VAT Collection Interest (negative growth by 42.27 percent), and Stamp Duty Sales (negative growth of 4.65 percent). The largest decrease in other taxes occurred in the Mining sector with negative growth of 77.92 percent followed by the Financial Services sector and the Transportation and Warehousing sector with negative growth of 31.81 percent and 4.79 percent, respectively.