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Berita Hari Ini Tax-to-GDP Ratio
Indonesia's tax revenue realization grew 12.3 percent year-on-year to IDR 78.5 trillion (approx. USD $5.8 billion) - which includes tax income from the oil & gas sector - in January 2018 supported by accelerating economic growth and higher commodity prices. However, there remain major concerns about Indonesia's tax revenue realization and the country's tax buoyancy as well as tax-to-GDP ratio.
The International Monetary Fund (IMF) sees room for Indonesia's tax ratio to rise up to 15 percent of gross domestic product (GDP). Luis Breuer, IMF Mission Chief for Indonesia, expects to see an improvement in Indonesia's tax ratio - from the weak level of 10 percent of GDP in 2017 - on the back of Indonesia's improving economic growth. Accelerating economic growth should boost tax revenue realization.
Lana Soelistianingsih, economist at Samuel Aset Manajemen, said it will be very difficult for Indonesian authorities to achieve its 11.5 percent tax-to-GDP ratio target in 2017 despite the positive impact of the government's recently completed tax amnesty program.
According to Ken Dwijugiasteadi, Taxation Director General at Indonesia's Finance Ministry, a tax-to-GDP ratio at 11 percent would be realistic for Indonesia's 2018 state budget (but would still require big efforts from the government). In a plenary session of Indonesia's House of Representatives (DPR) earlier this week, regarding the 2018 state budget proposals, some called for a sharp increase in the tax-to-GDP ratio to 13 percent. However, considering the expected tax revenue growth, this ratio would be highly unrealistic.
Indonesian Finance Minister Bambang Brodjonegoro announced on Tuesday (05/04) that Indonesia's tax revenue reached IDR 194 trillion (approx. USD $14.7 billion) in the first quarter of 2016, down 2.1 percent from tax revenue in the same period one year earlier. Brodjonegoro blamed this poor result on lower income from value-added taxes (VATs) due to tax restitution and people's low consumption amid sluggish economic growth. Meanwhile, he informed that Indonesia plans to cut the personal income tax, a move aimed at boosting tax compliance.
The Director General of Indonesia's Tax Office, Sigit Priadi Pramudito, unexpectedly resigned from his post on Tuesday (01/12) as it became increasingly clear that there will be a big shortfall, perhaps up to IDR 250 trillion (approx. USD $18 billion), in the country's tax collection this year. In the Revised 2015 State Budget the Indonesian government targets to collect IDR 1,294.3 trillion (approx. USD $94 billion). Pramudito is the first tax chief to resign from his post in the modern history of Indonesia.
Bambang Brodjonegoro, Menteri Keuangan Indonesia, mengumumkan pada hari Rabu (27/05) bahwa Pemerintah Indonesia mungkin menaikkan batasan tidak kena pajak - yang membedakan antara penghasilan perorangan yang kena pajak dan tidak kena pajak - sebanyak hampir 50%. Meskipun tindakan ini akan mengimplikasikan pendapatan pajak yang lebih rendah untuk Pemerintah, ini akan memperkuat daya beli masyarakat Indonesia dan bisa agak mendongkrak aktivitas perekonomian di sebuah perekonomian yang dibebani oleh perlambatan pertumbuhan perekonomian sejak 2011.
Fuad Rahmany, Director General of Taxes at the Indonesian Finance Ministry, said that state revenue from taxes will not achieve the target that has been set in the Revised 2014 State Budget (APBNP 2014). Rahmany expects that only 94 percent of the target, or about IDR 1,008 trillion (USD $84 billion) will be achieved (this figure excludes import duties and excise duties). Classical problems that cause Indonesia’s low tax-to-GDP ratio include low tax compliance, the low number of tax officials, and weak government coordination.
Newly elected presidential pair Joko “Jokowi” Widodo and running mate Jusuf Kalla, the pair that will guide Indonesia for the next five years starting from October 2014, propose to raise the target for economic growth in Southeast Asia’s largest economy from 5.6 percent to 5.8 percent in 2015. Furthermore, the pair would like to set a stronger average rupiah rate at IDR 11,600 per US dollar over 2015 (from IDR 11,900 as set in the Revised 2015 State Budget). Several reasons are behind these ambitious targets.
The structure of tax revenue in Indonesia has not changed in the past decade resulting in the country’s still low tax-to-GDP ratio of between 12 and 13 percent. Emerging countries such as Indonesia typically have a low tax-to-GDP ratio as the government’s financial management is inadequate (and plagued by corruption). However, it is important for Indonesia to raise this ratio in order to have more funds available to finance the budget deficit, infrastructure development, healthcare, education and other social programs to combat poverty.
Artikel Terbaru Tax-to-GDP Ratio
Indonesia's Finance Ministry said it will not revise the tax revenue target set in the 2016 State Budget. The Indonesian government targets to collect IDR 1,360.2 trillion (approx. USD $100 billion) worth of tax revenue in 2016, a 28.9 percent rise from tax revenue realization in 2015. However, although it is good to aim high - hence setting an ambitious target - it is also important to be realistic (to avoid budgetary turmoil and gain fiscal credibility, important for Indonesia to be eligible for a credit rating upgrade). How realistic is Indonesia's 2016 tax revenue target?
A tax amnesty bill, which protects corruptors from prosecution and penalties when bringing overseas funds back to Indonesia and fulfill tax obligations, will soon be discussed among Indonesia's government and the House of Representatives (DPR). A tax pardon is expected to result in enhanced tax collection next year. According to the latest data from Indonesia's Finance Ministry's Tax Directorate General, the country only managed to collect IDR 686 trillion (approx. USD $51 billion), or 53 percent of its 2015 tax revenue target, in the period 1 January - 5 October 2015.
Seorang pejabat pemerintah berposisi tinggi mengatakan bahwa pemerintah Indonesia berencana memotong pajak perusahaan secara bertahap dari 25% pada saat ini menjadi di bawah 18% dalam usaha untuk membuat Indonesia menjadi tempat yang lebih menarik untuk melakukan bisnis. Luhut Panjaitan, Kepala Staf Presiden Joko Widodo, mengkonfirmasi bahwa Widodo telah memerintahkan tindakan pajak yang terbaru ini. Selama beberapa minggu terakhir kita telah melihat pengumuman sejumlah kebijakan pajak baru karena pemerintah bertekad untuk mendongkrak pengumpulan pajak sebesar 30% di 2015.
One strategy of Indonesian President Joko Widodo to generate more state revenues in order to enhance investments in social and economic development of Indonesia is by improving the country’s tax collection system. As the middle class as well as number of companies that are active in Indonesia has risen rapidly in recent years, it is disappointing that tax collection targets are rarely met in Southeast Asia’s largest economy: tax compliance is low, while corruption among civil servants (tax collectors) remains a structural problem.
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