Ministry of Finance Major Revamp: State Revenue Authority on Horizon

By Editorial Team 22/04/2024
Money
Summary

The Indonesian government has included a plan to establish a National Revenue Authority in its preliminary 2025 Government Work Plan (RKP) draft. According to the document, the creation of this agency aims to boost Indonesia's tax ratio and realize the vision of Indonesia Emas 2045. The government targets a tax ratio of 11.2 percent to 12 percent of Gross Domestic Product (GDP) by 2025, higher than the 2024 target of 10.12 percent.

"Increasing tax revenue is critical to achieving the targeted tax ratio, and this will be accomplished through institutional reforms via the establishment of the National Revenue Authority to enhance the tax ratio, providing sufficient fiscal space in the national budget for implementing development projects as part of realizing the Indonesia Emas 2045 vision," according to an excerpt from the 2025 Government Work Plan document cited by Kontan on Apr. 21.

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