Indonesia will tax cryptocurrency transactions
From May 1, Indonesia will start levying value-added tax (VAT) on transactions with crypto assets and income tax on capital gains from such investments.
In both cases, the rate will be 0.1%, said a representative of the country’s Tax Service. Indonesian laws equate digital currencies with commodities, but prohibit their use as a means of payment.
The agency levies a similar tax on transactions in the stock market, while transactions with physical goods in Indonesia are subject to VAT at 11%.