RI's 2010 revenue exceeds target: Ministry

The government has announced that the country’s total state revenues last year exceeded their target by 2.1 percent.

The 2010 revised state budget had a target of Rp 990.5 trillion (US$109.9 billion), while the actual realized figure was Rp 1,011.6 trillion.

The Finance Ministry said in a Tuesday press statement that the increase was boosted by non-tax revenue in 2010 of Rp 267.5 trillion, which exceeded their previous target of Rp 247.2 trillion by 8.2 percent.

Total revenue from taxes exceeded the target of Rp 743.3 trillion by 0.1 percent, to Rp 744.1 trillion.

“The tax sector performed well; nearly all tax revenues exceeded targets, excepting those from the non-oil-and-gas income tax (PPh) and the value-added tax (PPn),” head of the state budget policy center at the Finance Ministry’s Fiscal Policy Agency (BKF), Askolani, said.

Askolani said while revenue from non-oil-and-gas PPh had been targeted at Rp 306.8 trillion, the country only earned Rp 297.7 trillion from the sector, or 97 percent of the targeted figure.

Realized revenue from PPn and the luxury goods sales tax (PPn-BM) was Rp 251.9 trillion, missing the target by 4.2 percent.

Indonesia has enjoyed increasing revenue and grants of Rp 1,014 trillion in 2010, 2.2 percent higher than the target and 19.5 percent higher than 2009’s earnings of Rp 848.8 trillion.