In This Country Ticket Brokers With An Income Of More Than Rp9.2 Are Subjected To Taxes

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JAKARTA - Ticket brokers who make more than 600 US dollars (equivalent to Rp9.2 million) from ticket resales will be taxed in the United States, according to the Internal Revenue Service.

The IRS will crack down on brokers with new laws that will ensure large amounts of revenue from resales is taxed, as reported by the Wall Street Journal.

In line with the new law which is part of the company's American Rescue Plan Act such as Ticketmaster and StubHub must report that customers sell more than IDR 9.2 million ticket resale tickets by 2023.

The company initially had to send a 1099-K return of information that reported a dirty amount of payment card transactions and third-party networks' that could be reported for the calendar year to those that generate more than 20 thousand US dollars (Rp308.2 million) to 200 or more transactions in a year.

Now, that figure will turn into IDR 9.2 million. Online payment and market applications are required to apply for the 1099-K Form if gross payments of goods and services to you are more than 600 US dollars," the IRS said in a statement.

The threshold for reporting 600 US dollars begins in the fiscal year 2023. There is no change in what is calculated as income or how taxes are calculated.