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