JAKARTA. During January-June 2024, the government managed to collect tax revenue from cryptocurrency trading activities reaching IDR 331.56 billion.
Referring to data from the Directorate General of Taxes (DGT), this amount has exceeded the achievement of crypto tax revenue throughout 2023 which was recorded at only IDR 220.83 billion.
For information, crypto tax collection activities have been taking place since 1 May 2022. This is as stated in the Minister of Finance Regulation (PMK) Number 68/PMK.03/2022.
Read: Indonesia Officially Imposes Tax on Crypto Asset Per 1 May 2022
Then from 2022 to 2024, the amount of crypto tax revenue that has been collected is IDR 798.84 billion. The crypto tax revenue consists of Income Tax Article 22 and Value Added Tax (VAT) on crypto purchase transactions on exchanges.
The amount of revenue in each type of tax is known to be IDR 376.13 billion and IDR 422.71 billion.
Based on the provisions, the imposition of Income Tax Article 22 is carried out based on the sale and purchase of crypto assets, Trading Through Electronic Systems (PMSE) services, and mining services. Meanwhile, the imposition of crypto VAT is carried out on income from trading, PPMS, and income from mining services.
For VAT, the rate imposed is 0.11% if PPMSE is registered with Bappepti and 0.22% if PPMSE is not registered with Bappepti. Meanwhile, the Income Tax Article 22 rate on income from crypto trading is 0.1% if the PPMSE is registered with Bappepti and 0.2% if the PPMSE is not registered with Bappepti. (ASP/KEN)
