How To Report Annual SPT Sales Of Crypto Assets 2023

YOGYAKARTA - The government has used a tax on crypto assets since May 1, 2022, which will begin to be paid and reported in June 2022. So, for those of you taxpayers who are preparing data on crypto transactions for reporting annual tax returns (SPT), there's nothing wrong with getting to know the simple steps to report SPT for the sale of crypto assets through DJP Online. Then how do you report the annual tax return for sales of crypto assets?

How to Report the Annual SPT Sales of Crypto Assets

Regulations regarding crypto taxes have actually been contained in Minister of Finance Regulation (PMK) Number 68/PMK.03/2022 concerning Point Added Tax and Income Tax on Crypto Asset Trading Transactions. This PMK is an innate regulation from Law Number 7 of 2021 concerning the Harmonization of Tax Regulations (UU HPP).

In this regulation, each crypto transaction will be subject to a Point Added Tax (VAT) of 1 percent of the 11 percent VAT or 0.1 percent multiplied by transaction points, if it is through physical trading. Then, add 2 percent of the VAT fee or 0.2 percent multiplied by the transaction point, if it's not a physical seller.

Not only that, income received from selling crypto is subject to Final Income Tax with a fee of 0.1 percent of the transaction points if it is done through a physical trader, and 0.2 percent if the organizer is not a physical trader.

The income from the sale of crypto assets is an object of Article 22 income tax (PPh) and is final, so the taxpayer should deposit and report the income tax payable. For this reason, you must report income earned from selling crypto assets via SPT Form 1770.

This SPT form is addressed to individual taxpayers whose sources of income come from independent businesses or professions, or work with more than one employer, or only have income subject to final income tax.

In simple terms, the steps for reporting income from the sale of crypto assets are as follows:

1. Prepare pieces of evidence and data as mentioned above.
2. Log into your DJP Online account by entering your NPWP, password, and security code.
3. After entering, select the “Report” menu and click “e-Form PDF”.
4. Select "Create SPT" and answer a few questions in it.
5. If you meet the criteria for SPT 1770 Taxpayers, you can select the "E-Form Annual Individual SPT Form 1770" feature.
6. Select the "Normal SPT" status, and fill in the tax year you want to report and the desired token delivery media. If you want to import CSV data and other information, you can select the "e-Form PDF" page first.
7. Once filled in, you can select the "Send Request" menu so that the e-Form 1770 PDF is downloaded automatically and the token is also sent according to the selected delivery medium.
8. Open the SPT form that has been downloaded with the Adobe PDF Reader application. At the top of the form page, select “Recording”.
9. The first thing to fill in is Appendix IV. In the attachment, you fill in part A regarding assets at the end of the year. You can fill in the type of property with the words "Crypto Assets" and complete the other columns.
10. When finished, you can fill out attachment III in part A regarding the income that is subject to final and/or final tax. Enter crypto sales for one tax year in the Other income column that is subject to and/or final.
11. Then you can complete the other columns from start to finish.
12. Double-check the results of filling out the SPT that you did. If you are sure that it is filled in completely, clearly, and correctly, you can select the "Submit" button.
13. You will be asked to attach the required documents and complete other administration. After that, enter the verification code received via email or cellphone number, then click "Submit".
14. If the SPT reporting has been successful, you will get a notification that the SPT submission was successful. Finally, you will also receive an electronic receipt via email.

So after knowing how to report the annual SPT for selling crypto assets, and see other interesting news on VOI, it's time to revolutionize reporting!