Sri Mulyani Issues New PMK, Official VAT-Free Crypto Assets

JAKARTA - The Ministry of Finance officially waives the imposition of Value Added Tax (VAT) on crypto assets which will take effect on August 1, 2025.

This policy is stipulated in the Minister of Finance Regulation (PMK) Number 53 of 2025, which officially abolishes Articles 343 and 354 in PMK 11/2025.

Meanwhile, this policy was taken to provide legal certainty and adjust to the rapid development of crypto asset trading in Indonesia.

"That to provide legal certainty over crypto asset trading transactions and adjust the development of crypto asset trading, it is necessary to adjust tax provisions for crypto asset trading transactions," quoted from PMK 53/2025, Wednesday, July 30.

Previously, the exception of the imposition of VAT on the delivery of crypto assets had been regulated in PMK 50/2025. In this regulation, crypto assets are treated similarly to securities, so they are not subject to VAT.

Meanwhile, the delivery of taxable services in the form of electronic facilities supply services to facilitate crypto asset trading transactions by Trade Organizers Through Electronic Systems (PMSE), as well as crypto asset transaction verification services by miners, is still subject to VAT.

In addition, the types of electronic facilities provided by VAT include buying and selling transactions of crypto assets using fiat currency, exchanges between crypto assets (swap), as well as electronic wallet services such as deposits, withdrawing funds, transferring crypto assets to other accounts, and providing or managing crypto asset storage media.

The amount of VAT rates for these services is 11 percent, which is calculated based on the VAT rate of 12 percent which will take effect in 2025, multiplied by another value of 11/12 as stipulated in PMK Number 131 of 2024.