Indonesia will tax cryptocurrency transactions

04.04.2022 20:43
by Anđelija Anđelić
1 min read

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%.

Author

  • Anđelija Anđelić is an Italian language and lit major, and investigative journalist with a special interest in the crypto world and tech innovations. Exploring the ways our world is changing and bringing the freshest info is her passion.

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