Saturday, December 10, 2016

Tax and excise revenues shortfalls remain high

JAKARTA - The targets of taxation revenues (tax and customs) for this year are unlikely to be achieved. As of the end of November 2016, the tax revenues have just amounted to Rp 1,098.5 trillion. This is much lower than the government target, which is Rp 1,320.2 trillion. In fact, the number has included Rp 219 trillion shortfalls.

Minister of Finance Sri Mulyani Indrawati said that, the potential tax and customs revenues in December range from Rp 143 trillion to Rp 144 trillion. The number consists of routine revenues and redemption fees of tax amnesty, which amount to Rp 101 trillion -102 trillion and Rp 42 trillion, respectively.

The customs revenues will depend on the revenues of tobacco excise. In this case, the cigarette producers will pay the excises in this year, as the increase in excise tariff for tobacco products will take effect starting from the next year.

“The shortfall will not be high,” said Sri Mulyani, Friday (9/12). However, the Minister refused to mention the estimation of customs revenues in December.

Clearly, if the tax revenues in December were estimated at Rp 143 trillion-Rp 144 trillion, then the customs revenues should be Rp 77.7 trillion-Rp 78.7 trillion. The amounts are much higher than the average monthly customs revenues, which are only Rp 12 trillion.

However, the Executive Director of the Center for Indonesian Taxation Analysis (CITA) Yustinus Prastowo said, the customs revenues at the end of the year are usually higher three times than the usual months, on the grounds that the producers will settle the excise banderoles for December, as well as for January and February 2017 in that period.

However, Yustinus said that the government is unlikely to be able to cover the Rp 219 trillion shortfalls in tax revenues. Even, if the tax amnesty program is successful, the realization of tax revenues will be only 85% of the target of 2016 Revised State Budget. Yustinus said, the government should focus on obtaining cash flow. “The deficit may be greater under the current condition," he said.

Sumber: kontan.co.id

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