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Indonesia records 16.21 percent growth in tax revenue

Indonesia records 16.21 percent growth in tax revenue

JAKARTA: Indonesia recorded double-digit growth in tax revenue in the first quarter of 2018, excluding income from last year’s tax amnesty, Finance Minister Sri Mulyani Indrawati announced on Monday.

Tax revenue reached Rp 244.5 trillion (US$ 17.76 billion), or a 16.21 percent year-on-year (yoy) growth.

The tax office collected Rp 12 billion from the tax amnesty in the first three months of 2017.

“Our tax revenue has shown progress; it reflects our upward economic development,” Sri Mulyani said.

The figure suggests that the tax office has collected 17.17 percent of its Rp 1.42 quadrillion target for this year.

The mining sector contributed Rp 11.78 trillion, or a 70.88 percent growth from last year.

Meanwhile, tax revenue paid by the manufacturing industry reached Rp 63.91 trillion, a 6.72 percent yoy growth.