Until May 2024, The Ministry Of Finance Records A Capai Digital Economy Business Tax Of IDR 24.99 Trillion

Rupiah (Photo: Unsplash)

JAKARTA - The Ministry of Finance recorded tax revenues from the digital economy business sector of IDR 24.99 trillion until May 31, 2024.

Meanwhile, this amount comes from the collection of Value Added Tax (PPN) for Trade Through Electronic Systems (PMSE) amounting to Rp20.15 trillion, crypto tax of Rp746.16 billion, fintech tax (P2P lending) of Rp2.11 trillion, and taxes collected by other parties for goods and/or services procurement transactions through the Government Procurement Information System (SIPP tax) amounting to Rp1.99 trillion.

Meanwhile, until May 2024, the government has appointed 172 PMSE business actors to become Value Added Tax collectors (VAT). In May 2024, there will be no appointment, correction/change of data or revocation of PMSE VAT collection.

Director of Counseling, Services and Public Relations Dwi Astuti said that of the total collections that had been appointed, 157 PMSE had collected and deposited PMSE VAT amounting to Rp20.15 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 3.25 trillion in deposits in 2024," Dwi said in his statement, Friday, June 21.

Crypto tax revenues have been collected amounting to IDR 746.16 billion as of May 2024. The receipts come from IDR 246.45 billion in revenues in 2022, IDR 220.83 billion in revenues in 2023, and IDR 278.88 billion in 2024.

Meanwhile, the crypto tax revenue consists of Rp351.34 billion in PPh 22 receipts for crypto sales transactions on exchangers and Rp394.82 billion in Domestic VAT (VAT DN) revenues for crypto purchase transactions on exchanges.

Meanwhile, fintech taxes (P2P lending) have also contributed tax revenues of Rp2.11 trillion until May 2024. Revenue from fintech taxes comes from Rp446.39 billion in revenues in 2022, Rp1.11 trillion in revenues in 2023, and Rp549.47 billion in revenues in 2024.

Meanwhile, the fintech tax consists of PPh 23 on loan interest received by Domestic Taxpayers (WPDN) and Fixed Business Forms (BUT) amounting to IDR 713.51 billion, PPh 26 for loan interest received by Foreign Taxpayers (WPLN) amounting to IDR 256.9 billion, and VAT DN for period deposits of IDR 1.14 trillion.

The tax revenue for other digital economy businesses comes from the SIPP tax revenue. Until May 2024, revenue from the SIPP tax amounted to IDR 1.99 trillion.

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 Rp469.4 billion in revenue in 2024. Meanwhile, SIPP tax revenue consists of PPh of Rp134.1 billion and VAT of Rp1.85 trillion.

"In order to create justice and equality of business for both conventional and digital business actors, the government will continue to appoint PMSE business actors who sell products and provide digital services from abroad to consumers in Indonesia," he said.

Dwi said the government would 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.