KONTAN.CO.ID - JAKARTA. Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1% each, starting from May 1, a tax official said on Friday, amid a boom in digital asset trading. Interest in digital assets has surged in Southeast Asia's largest economy during the COVID-19 pandemic, with the number of crypto asset holders jumping to 11 million by the end of 2021. Last year's total crypto asset transactions in commodity futures markets reached 859.4 trillion rupiah ($59.8 billion), up more than 10 times from 2020's transaction value, data from the Commodity Futures Trading Regulatory Agency showed.
Indonesia to Impose VAT, Income Tax on Crypto Assets from May
KONTAN.CO.ID - JAKARTA. Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1% each, starting from May 1, a tax official said on Friday, amid a boom in digital asset trading. Interest in digital assets has surged in Southeast Asia's largest economy during the COVID-19 pandemic, with the number of crypto asset holders jumping to 11 million by the end of 2021. Last year's total crypto asset transactions in commodity futures markets reached 859.4 trillion rupiah ($59.8 billion), up more than 10 times from 2020's transaction value, data from the Commodity Futures Trading Regulatory Agency showed.