DGT Himpun Dana Rp27.85 Trillion From Digital Economic Sector Tax As Of August 31, 2024

Illustration. (Photo: Doc. Antara)

The Directorate General of Taxes (DGT) of the Ministry of Finance (Kemenkeu) collected funds worth IDR 27.85 trillion from the tax payments of the digital economy sector as of August 31, 2024.

Director of Counseling, Services, and Public Relations of DGT Dwi Astuti in her statement, in Jakarta, quoted from Antara, Thursday, September 12, said the value came from collecting Value Added Tax (VAT) for Trade Through Electronic Systems (PMSE), crypto taxes, fintech taxes (P2P lending), and taxes collected by other parties for goods procurement transactions and/or services through the Government Procurement Information System (SIPP tax).

From the PMSE VAT, the total tax deposited reached Rp22.3 trillion from 166 PMSE business actors. This amount comes from Rp731.4 billion in deposits in 2020, Rp3.90 trillion in deposits in 2021, Rp5.51 trillion in deposits in 2022, Rp6.76 trillion in deposits in 2023, and Rp5.39 trillion in deposits in 2024.

The PMSE number that has been appointed by the Government to collect VAT until August 2024 reaches 176 business actors. This number includes two PMSE VAT collection appointments, namely THE World Universities Insights Limited and Cloudkeeper (Singapore) PTE LTD, and one PMSE VAT collection data correction, namely Freepik Company, SL.

In order to create justice and equal business (level playing field) 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.

Furthermore, crypto tax revenues have been collected amounting to Rp875.44 billion until August 2024. The receipts come from Rp246.45 billion in revenues in 2022, Rp220.83 billion in revenues in 2023, and Rp408.16 billion in 2024.

The crypto tax revenue consists of Rp411.12 billion in PPh 22 receipts for crypto sales transactions on exchangers and Rp464.32 billion in domestic VAT (DN) revenues for crypto purchase transactions on exchangers.

Fintech tax (P2P lending) has also contributed tax revenues of Rp2.43 trillion until August 2024. Revenue from fintech taxes comes from Rp446.39 billion in revenues in 2022, Rp1.11 trillion in revenues in 2023, and Rp872.23 billion in revenues in 2024.

The fintech tax consists of PPh 23 on loan interest received by domestic taxpayers (WPDN) and a fixed form of business (BUT) of Rp765.27 billion, PPh 26 for loan interest received by foreign taxpayers (WPLN) of Rp354.2 billion, and VAT DN for a period deposit of Rp1.31 trillion.

Meanwhile, from the SIPP tax, revenues until August 2024 were recorded at IDR 2.25 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 Rp726.41 billion in revenue in 2024. SIPP tax revenue consists of PPh of Rp152.74 billion and VAT of Rp2.09 trillion.

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 SIPP.