Indonesia’s tax revenues slumped to a four-year low in the first half of 2015, standing at 555.2 trillion rupiah (41.5 billion USD) or 37.3 percent of the yearly target.
The country’s Directorate General of Taxes attributed the decline to the economic slowdown in the first quarter, falling imports and low commodity prices.
During January-June, property tax revenues reduced 33 percent, while those from export taxes plunged by 72.5 percent and from import taxes by 1.9 percent against the same period last year.
The tax office had earlier predicted that it could collect 1.37 quadrillion rupiah in tax income by year-end or 91.8 percent of the yearly target of 1.49 quadrillion rupiah.
Andreas Eddy Susetyo, member of the Indonesian House of Representatives’ Commission XI overseeing finance, said the tax office should exert more efforts in achieving at least the 91.8 percent target in order to keep state budget deficit below the Finance Ministry’s recent estimates of around 2.2 to 2.3 percent of GDP.-VNA
The country’s Directorate General of Taxes attributed the decline to the economic slowdown in the first quarter, falling imports and low commodity prices.
During January-June, property tax revenues reduced 33 percent, while those from export taxes plunged by 72.5 percent and from import taxes by 1.9 percent against the same period last year.
The tax office had earlier predicted that it could collect 1.37 quadrillion rupiah in tax income by year-end or 91.8 percent of the yearly target of 1.49 quadrillion rupiah.
Andreas Eddy Susetyo, member of the Indonesian House of Representatives’ Commission XI overseeing finance, said the tax office should exert more efforts in achieving at least the 91.8 percent target in order to keep state budget deficit below the Finance Ministry’s recent estimates of around 2.2 to 2.3 percent of GDP.-VNA
