Government Records Digital Tax Revenue Until June 2024 Reaches IDR 25.88 Trillion

The Directorate General of Taxes (DJP) of the Ministry of Finance noted that revenues from the digital economy business sector until June 30, 2024 reached IDR 25.88 trillion.

This amount comes from collecting Value Added Taxes (VAT) for Trade Through Electronic Systems (PMSE), cryptocurrencies, to receipts from online loan companies.

Director of Counseling, Services and Public Relations Dwi Astuti detailed the collection of Value Added Tax (VAT) for Trade Through Electronic Systems (PMSE) of IDR 20.8 trillion, crypto tax of IDR 798.84 billion.

Then, fintech taxes (P2P lending) amounted to Rp2.19 trillion, and taxes collected by other parties for goods and/or services procurement transactions through the Government Procurement Information System (SIPP tax) amounted to Rp2.09 trillion.

As of June 2024, the government has appointed 172 PMSE business actors to become Value Added Tax collectors (VAT).

In June 2024, there will be no appointment, correction/change of data or revocation of PMSE VAT collection.

Of the total polling that has been appointed, 159 PMSE have collected and deposited PMSE VAT of IDR 20.8 trillion.

"This amount comes from IDR 731.4 billion in deposits in 2020, IDR 3.90 trillion in deposits in 2021, IDR 5.51 trillion in deposits in 2022, IDR 6.76 trillion in deposits in 2023, and IDR 3.89 trillion in deposits in 2024," he said in his statement, quoted on Tuesday, July 23.

Dwi said that crypto tax revenues had been collected amounting to Rp798.84 billion as of June 2024.

The receipts came from Rp246.45 billion in revenues in 2022, Rp220.83 billion in revenues in 2023, and Rp331.56 billion in 2024.

The crypto tax revenue consists of Rp376.13 billion in PPh 22 receipts for crypto sales transactions on exchangers and Rp422.71 billion in VAT DN receipts for crypto purchase transactions on exchangers.

In addition, continued Dwi, fintech taxes (P2P lending) have also contributed tax revenues of Rp2.19 trillion until June 2024.

Revenue from fintech taxes comes from Rp446.39 billion in revenues in 2022, Rp1.11 trillion in revenues in 2023, and Rp635.81 billion in revenues in 2024.

"The fintech tax consists of PPh 23 on loan interest received by WPDN and BUT amounting to Rp732.34 billion, PPh 26 for interest on loans received by WPLN amounting to Rp270.98 billion, and VAT DN for period deposits of Rp1.19 tax revenues for other digital economy businesses comes from SIPP tax revenues," he explained.

As of June 2024, receipts from the SIPP tax amounted to IDR 2.09 trillion.

Penerimaan dari pajak SIPP tersebut berasal dari Rp402.38 miliar penerimaan tahun 2022, sebesar Rp1,12 triliun pendapat tahun 2023, dan Rp572.17 miliar penerimaan tahun 2024.

SIPP tax revenue consists of PPh of Rp. 141.23 billion and VAT of Rp. 1.95 trillion.

"In order to create justice and equal business (level playing field) for business actors, both conventional and digital, the government will continue to appoint PMSE business actors who sell products and provide digital services from abroad to consumers in Indonesia," said Dwi.

Dwi added that the government will explore the potential for other digital economy business tax revenues such as crypto taxes on crypto asset trading transactions, fintech taxes on loan interest paid by loan recipients, and SIPP taxes on goods and/or services procurement transactions through the Government Procurement Information System.