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Jakarta, CNBC Indonesia – In November, Indonesia’s economic recovery appears to be on the right track. However, the pace is relatively slow, so a contraction (negative growth) is likely to occur in the fourth quarter of 2020.
One sign that economic activity is stretching is tax revenue. This is because taxes are paid if the business world and households register an increase in income (Income Tax / PPh) or a transaction occurs (Value Added Tax / VAT).
In January-November 2020, the Ministry of Finance reported that the total tax revenue was IDR 1,108.8. 15.5% less than in the same period of the previous year.
Compared to the performance of January-October 2020, there was an improvement because at that time tax revenues grew negatively by 15.58%. However, the repair was relatively smooth.
A little deeper, the non-oil and gas PPh revenues in January-November were recorded at Rp 492.57 billion or 20.01% below the achievement of January-November 2019. Worse than January-October, which was – 19.03%.
Meanwhile, VAT deposits (and luxury goods sales tax / PPnBM) in January-November 2020 were 378.77 trillion IDR, 14.15% less than in the same period of the previous year . This time there is an improvement, because in January-October 2020 the revenues of PPN and PPnBM grew -15.21%.
