Government Collects Loan And Crypto Taxes Of IDR 3.11 Trillion

JAKARTA - The government recorded that until July 31, 2024, revenue from the digital economy business sector reached IDR 26.75 trillion.

Director of Counseling, Services and Public Relations Dwi Astuti said the amount came from the collection of Value Added Tax (VAT) for Trade Through Electronic Systems (PMSE) amounting to IDR 21.47 trillion. Meanwhile, crypto taxes amounted to IDR 838.56 billion and fintech taxes (P2P lending) amounted to IDR 2.27 trillion, both totaling IDR 3.11 trillion.

Meanwhile, taxes collected by other parties on goods and/or services procurement transactions through the Government Procurement Information System (SIPP tax) amounted to Rp2.18 trillion.

Meanwhile, until July 2024, the government has appointed 174 PMSE business actors to become Value Added Tax collectors (VAT).

"This number includes two PMSE VAT collection appointments and four PMSE VAT data corrections or changes to PMSE VAT collection data," he said in his statement, quoted Friday, August 9.

Meanwhile, the appointments in July 2024 are PT Final Impian Niaga and Niantic International Ltd. The corrections in July 2024 are Elsevier BV,missions Risk Solutions FL Inc., EZVIZ International Limited, and DeepL SE.

Dwi conveyed that of the total polls that had been appointed, 163 PMSE had collected and deposited PMSE VAT amounting to Rp21.47 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 4.57 trillion in deposits in 2024," he said.

Meanwhile, crypto tax revenues have been collected in the amount of Rp. 838.56 billion until July 2024. The receipts come from Rp. 246.45 billion in revenues in 2022, Rp. 220.83 billion in revenues in 2023, and Rp. 371.28 billion in 2024.

The crypto tax revenue consists of Rp394.19 billion in PPh 22 receipts for crypto sales transactions on exchangers and Rp44.37 billion in VAT DN receipts for crypto purchase transactions on exchangers.

Fintech tax (P2P lending) has also contributed tax revenues of Rp2.27 trillion until July 2024. Revenue from fintech taxes comes from Rp446.39 billion in revenues in 2022, Rp1.11 trillion in revenues in 2023, and Rp712.53 billion in revenues in 2024.

The fintech tax consists of PPh 23 on loan interest received by WPDN and BUT amounting to Rp747.93 billion, PPh 26 for interest on loans received by WPLN amounting to Rp281.28 billion, and VAT DN for period deposits of Rp1.24 trillion.

The tax revenue for other digital economy businesses comes from the SIPP tax revenue. Until July 2024, revenue from the SIPP tax amounted to IDR 2.18 trillion.

Meanwhile, the receipt from the SIPP tax came from Rp402.38 billion in revenue in 2022, amounting to Rp1.12 trillion in revenue in 2023, and Rp656.37 billion in revenue in 2024. SIPP tax revenue consists of PPh of Rp149.7 billion and VAT of Rp2.03 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 also 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.