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8 March 2010

Indonesia cuts tax target in revised 2010 state budget

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Taxation revenues are estimated to drop 9.5 trillion rupiah ($1.03 billion) to 733.24 trillion rupiah this year, according to the proposed revised 2010 state budget, reported the Jakarta Post.

The figure is 75.22 percent of the estimated total state revenue of 974.82 trillion rupiah.

Taxation revenue comprises of the funds collected by the Finance Ministry’s Directorate General of taxation and Directorate General of Customs and Excise.

In the original 2010 budget, taxation revenues were estimated to reach 742.74 trillion rupiah, or 78.21 percent of the estimated total state revenue of 949.66 trillion rupiah.

Finance Minister Sri Mulyani Indrawati said Friday that taxation revenues had been revised downwards because of a lower tax base resulting from below-target tax revenue in 2009.

In the revised 2009 budget, taxation revenues were expected to reach Rp 652 trillion, but the actual realized revenue has proved to be lower, as tax revenue failed to reach the target, said Mulyani.

Tax revenue last year reached 565.77 trillion rupiah, or 97.99 percent of the target, Director General of Taxation M. Tjiptardjo said in early January.


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