Ministry Led By Sri Mulyani Cuan! Crypto Tax Successfully Collected Rp48 Billion In Three Months

JAKARTA – The government through the Ministry of Finance stated that the state's policy to impose a tax levy on crypto activities has yielded positive results.

This was conveyed directly by the Minister of Finance (Menkeu) Sri Mulyani when giving an explanation to the media crew regarding the achievements of the APBN until the first semester of 2022.

The Minister of Finance explained that crypto activities in Indonesia are subject to two kinds of taxes. The first is Income Tax (PPh) Article 20 regarding Crypto Asset Transactions through trading through the electronic system (PMSE) and self-deposit.

Second, domestic value added tax (VAT) on collection by non-treasurers. In total, the withdrawals from these two fiscal provisions amounted to Rp48.19 billion.

"We collected PPh 22 by getting Rp. 23.08 billion and also domestic VAT of Rp. 25.11 billion," he said online to reporters, Wednesday, July 27.

The Minister of Finance added that the crypto tax policy is part of the spirit of state financial reform contained in the Law on Harmonization of Tax Regulations (HPP). Furthermore, since it was implemented in April 2022, the VAT rate adjustment has had a good impact on state revenues.

It was stated that in April the VAT collected was Rp. 1.96 trillion. This was followed by the May and June periods of Rp5.74 trillion and Rp6.25 trillion, respectively.

Meanwhile, overall tax revenue until the close of the first semester of 2022 has penetrated IDR 868.3 trillion or rocketed 55.7 percent year on year (yoy) from the first semester of 2022 which amounted to IDR 680 trillion.

“The impact of the VAT adjustment due to the HPP Law has increased our tax revenues. This illustrates that economic activities are getting stronger so that the VAT is increasing," closed the Minister of Finance Sri Mulyani.