ICYMI: Indonesia to impose 0.1% income tax for crypto transactions: report
that Hestu Yoga Saksama told a media briefing that crypto transactions will now face a value added tax and an income tax on capital gains at 0.1% each. The changes will take effect May 1.
Indonesia has banned crypto as a payment instrument in the country, but treats the asset as a commodity for trading. Saksama said because crypto is not considered currency, it will be subject to income tax and VAT, though the VAT will be below the 11% figure most Indonesian goods and services face. Written regulation for the taxes is still in the works, according to Saksama's comments, but a tax law passed last year empowers the government to tax crypto assets.
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