DGT: Crypto Tax Has Collected IDR 112 Billion Since Early 2024

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JAKARTA - The Directorate General of Taxes (DJP) said that the crypto tax had been collected of IDR 112 billion since early 2024.

Director General of Taxes Suryo Utomo detailed, of the Rp112 billion, Rp51 billion is income tax (PPh), and Rp59 billion is value added tax (VAT).

"In 2024, crypto transactions collect taxes of Rp. 112 billion in VAT and VAT. PPH is at Rp. 52 billion while VAT is Rp. 59 billion, specifically for above crypto transactions," said Suryo during a press conference at the KiTa State Budget in Jakarta, quoted from Antara, Friday, April 26.

For information, the government has officially set a tax for crypto assets through the Regulation of the Minister of Finance (PMK) of the Republic of Indonesia Number 68/PMK.03/2022 which is valid from May 1, 2022.

The PMK regulates Value Added Tax (VAT) and Income Tax (PPh) for crypto asset trading transactions. VAT for crypto asset sellers was recorded at 0.1 percent of the transaction value, and the VAT imposed was 0.11 percent of the transaction value.

Meanwhile, for those who have not registered with CoFTRA, the tax levy is higher, namely PPh 0.2 percent and VAT 0.22 percent.

"For the imposition of taxes on crypto transactions in the market managed by CoFTRA, there is currently PMK 68 of 2022. Then for the imposition we can convey here for VAT the rate is 0.11 percent per transaction, then PPh 0.01 percent per transaction is almost the same as tax on shares," said Suryo.

Regarding the input from various industry players who asked for the crypto tax rules to be reviewed, Suryo said that the determination of the crypto tax rules had gone through discussions with stakeholders. However, his party will try to review the amount of tax that is ideal to be applied.

"Later we will try to review again, what it looks like, is it true that taxes that are already so low have an impact on crypto transactions themselves, or maybe there are other causes," he concluded.