PROJECTION OF REVENUES FROM INCOME TAX DROPPED BY 4.1 PERCENT

Revenues for income tax in RAPBN-P State Budget 2014 came to Rp 562.93 billion, consisting of tax from oil-gas Rp 80,572 billion and revenues from non oil-gas income tax Rp 481,976.9 billion. Compared to target in APBN 2014 projection of tax income in projection of Pph tax was mainly due to downturn of income projection of non-oil gas. Such was data from Financial Notation and APBN-P 2014 obtained on Tuesday [17/6].

Income from non oil-gas in RAPBN-P 2014 amounting to Rp 80,572.5 billion means an increase of 5.9% against target in APBN 2014 which was due to depreciation of Rupiah value against USD.

Revenues from income tax in RAPBN-P 2014 amounting to Rp 481,976 billion means downturn of 5.5% of APBN target 2014. The downturn was mainly influenced by down-correction of economic growth assumptions in RAPBN-P 2014. The lesser calculation base of Pph non oil-gas was because realization of 2013 failed to meet target, and slowing down non oil-gas tax growth in Q-1/2014.

Income from value-added tax in APBN-P 2014 was projected to drop by 3.5% against target in APBN 2014. The changing income target from value-added tax [PPN] in RAPBN-P 2014 was mainly due to lower circulation base of PPN since realization of 2013 failed to meet target, and down-correction of economic growth assumption in RAPBN-P 2014.

Income from Land-and-Building Tax [PBB] from forestry, plantation, general  mining and oil-gas mining in RAPBN-P 2014 was projected to reach Rp 16,474 billion, a downturn of Rp 8,967.2 billion of APBN target 2014. The downturn was mainly due to downturn of income from PBB tax in oil-gas which was due downturn of income from areal PBB and production of oil-gas.

Income from tax in RAPBN-P 2014 was projected to reach Rp 117,150.2 billion or an increase of 0.7% against target in APBN 2014. The increase was mainly due to increase of cigarette consumption during General Election and capacity-increase of big cigarette companies through additional worker shift, expansion of production line, building if new factories and replacement of aging machines. Besides, increase was also due to increase of MMEA tax tariff with increase of 11,62% for domestic production and 11,70% for overseas production.

Other tax income in RAPBN 2014 was projected at Rp 5,179.6 billion, down by 5.7% against target in APBN State Budget 2014 The downturn was due to downturn of tax base estimated in line with low economic growth assumptions and RAPBN State Budget 2014.

Tax income from international trading in RAPBN-P 2014 was estimated to reach Rp 55,180.4 billion, an increase of 2.3 against target of 2014. Increase of projection in income from international taxes was influenced by increased projection of import and export taxes.

Income for import tax in RAPBN 2014 was estimated to reach Rp 35,176.0 billion, an increase of Rp 1,293.4 billion or 3.7% of APBN target 2014. The increase was on account of growing import in 2014 and depreciation of Rupiah value against USD.

Income from export tax was from export of mineral concentrate, leather, wood, CPO and by products and cacao seeds. The structure of income from export was dominated by export tax on CPO and by-products. In RAPBN state budget 2014 income from export tax was estimated at Rp 20,004,4 billion and increase of Rp 26.2 billion or 0.1% against APBN target of 2014. (SS)  

Business News - June 20, 2014