Indonesian Government Sets Crypto Tax at 0.1% to Be Levied Starting in May
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....
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The Indonesian government is set to launch a crypto bourse by the end of this year, a high-ranking government official reportedly revealed. “We will make sure that every requirement, procedure, and the necessary steps have been taken,” he emphasized.
Crypto Bourse Coming Soon in Indonesia
The Indonesian government is planning to launch a crypto bourse by year-end, Dealstreetasia reported Wednesday, citing Indonesia’s Deputy Trade Minister Jerry Sambuaga.
Speaking on the sidelines of NXC International Summit 2022 by WIR Group in Bali, the trade....
The government is still reportedly considering how to implement crypto taxes, but legislation passed in response to the pandemic laid the groundwork. The Indonesian government is reportedly planning to charge a 0.1% capital gains tax on crypto investments as well as a value-added tax, or VAT, on digital asset transactions starting from May 1.According to a Friday Reuters report, Hestu Yoga Saksama, a spokesperson for Indonesia’s tax office, said the country will be imposing “income tax and VAT” on crypto assets “because they are a commodity as defined by the Trade Ministry” and “not a....
The Indonesian cryptocurrency industry and market experienced notable growth in 2021. In 2021, the number of global crypto holders has been estimated to have increased by 3.9% to more than 300 million crypto users worldwide, with more than 18,000 businesses already accepting cryptocurrencies as payment. India is currently in the lead with 100 million users, followed by the United States with 27 million users and Russia with 17 million users.According to data from Triple A, Indonesia has the seventh-largest crypto user base, below Brazil and Pakistan. It is estimated that there are 7.2....
Pintu, a relatively unheard of Indonesian cryptocurrency exchange, has acquired a substantial fundraising round with the intention of expanding its services to the country’s developing domestic market. Pintu announced on Monday that it has secured $113 million in Series B funding from Pantera Capital, Lightspeed, and Northstar Group. The company confirmed in a statement that […]
In saying so, Faisal seems to indicate fake Bitcoin investing sites serve as a money collecting front for ISIS operations. For the umpteenth time, a government official claims there is a correlation between Bitcoin and terrorist group ISIS. Faisal Tayeb, Head of Investigation of Special Detachment 88, made that statement to the press last night. Officials are struggling to shut down funding options for terrorist activities, so they point the finger of blame at Bitcoin. So far, no credible evidence to back up these claims has been presented. The Indonesian government is facing a lot of....