New Indonesian Bitcoin Exchange Could Help Spur its Economy
Indonesia is a country of nearly 240 million people. Unfortunately, many of its inhabitants lack access to traditional banking services. In fact, Perbanas, Indonesia's National Banking Association, considers the state of the banking industry "a failure" since more than half of the population has no access to banking. Perbanas chairman Sigit Pramono said, "The access to banking is far lower than telecommunication." Only 40% of the population has gained access to the banking industry while telecommunication has a 102% penetration (due to multiple SIM card ownership). Bitcoin might just be....
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The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases.
Indonesia to Start Taxing Crypto Income at 0.1%
The Indonesian Directorate General of Taxes, the Ministry of Finance, has set income tax (PPh) on capital gains from crypto investments and value-added tax (VAT) on crypto purchases at 0.1%.
Hestu Yoga Saksama, director of tax regulations for the Ministry of Finance, told CNN Indonesia Friday:
That’s....
Indonesia, trailing just behind the United States as the fourth most populous country in the world, has a large and growing bitcoin community. The vast population is 80 percent unbanked, and their Rupiah is one of the most-traded currencies for bitcoin worldwide already. Bitcoin.com interviewed Suasti Atmastuti Astaman, the Business Development Manager....
A prominent e-commerce and digital payment platform in Indonesia, KinerjaPay Corp., has enabled bitcoin payments for transactions on its platform. This will be the first time that an e-commerce portal in Indonesia allows for bitcoin transactions on its platform. Users of KinjeraPay Corp., an Indonesian e-commerce platform will now be able to settle transactions on the marketplace with bitcoin. In an announcement today, the Indonesian marketplace revealed a partnership with Bitcoin Indonesia, a digital currency exchange that enables buying and selling bitcoin with the local fiat currency –....
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