{"id":59563,"date":"2022-04-04T11:35:16","date_gmt":"2022-04-04T08:35:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59563"},"modified":"2025-09-04T22:33:34","modified_gmt":"2025-09-04T19:33:34","slug":"indonesia-to-impose-vat-and-income-tax-on-cryptocurrency-transactions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/indonesia-to-impose-vat-and-income-tax-on-cryptocurrency-transactions\/","title":{"rendered":"Indonesia to Impose VAT and Income Tax on Cryptocurrency Transactions"},"content":{"rendered":"<p>From May 1, Indonesia will begin collecting value-added tax (VAT) on crypto-asset transactions and income tax on capital gains from such investments. In both cases, the rate will be 0.1%, according to a representative of the country\u2019s Tax Service in an interview <a href=\"https:\/\/www.reuters.com\/business\/finance\/indonesia-impose-vat-income-tax-crypto-assets-may-2022-04-01\/\">Reuters<\/a>.<\/p>\n<p>The agency applies a comparable tax on stock-market transactions, while deals in physical goods in Indonesia are subject to 11% VAT.<\/p>\n<p>The legislation treats digital currencies as exchange-traded goods but bans their use as a means of payment.<\/p>\n<p>According to the local Agency for Commodity Futures Trading Regulation, in 2021 the total value of cryptocurrency transactions on derivatives markets reached 859.4 trillion rupiah ($59.8 billion). The figure rose more than tenfold year over year.<\/p>\n<p>By the end of 2021, the number of crypto investors in the country reached 11 million. The growth driver was the COVID-19 pandemic. According to a Jump Capital study, Indonesia <a href=\"https:\/\/u1f987.com\/en\/news\/study-finds-india-indonesia-and-mexico-the-most-promising-countries-for-cryptocurrencies\">entered the ranks of the most promising<\/a> for crypto-friendly countries.<\/p>\n<p>Earlier, the country&#8217;s central bank <a href=\"https:\/\/u1f987.com\/en\/news\/indonesia-to-issue-a-national-digital-currency-cbdc\">announced plans to issue<\/a> <span data-descr=\"national digital currency\" class=\"old_tooltip\">CBDC<\/span>, which will become legal tender.<\/p>\n<p>As noted, work on developing cryptocurrency taxation in Indonesia <a href=\"https:\/\/u1f987.com\/en\/news\/indonesia-to-discuss-introducing-tax-on-cryptocurrency-profits\">began<\/a> in May 2021.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From May 1, Indonesia will begin collecting value-added tax (VAT) on crypto-asset transactions and income tax on capital gains from such investments. In both cases, the rate will be 0.1%, according to a representative of the country\u2019s Tax Service in an interview with Reuters.<\/p>\n","protected":false},"author":1,"featured_media":59564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1530,36,558],"class_list":["post-59563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-indonesia","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59563"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59563\/revisions"}],"predecessor-version":[{"id":59565,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59563\/revisions\/59565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59564"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}