Sri Mulyani Calls The Government Has Get Rp159.12 Billion From Crypto Tax

Minister of Finance Sri Mulyani Indrawati. (Photo: Doc. Ministry of Finance)

Minister of Finance Sri Mulyani said the government received a crypto tax of IDR 159.12 billion until the end of September 2022 in the form of income tax (PPh) and value added tax (VAT). Sri Mulyani said that the tax on crypto assets was valid since May 1, 2022. In a short time, the tax acquisition from transactions and the top profits was quite large. In June 2022 or one month after taking effect, the government managed to obtain a crypto tax of up to IDR 48 billion and July 2022 to IDR 80.9 billion. In August 2022, crypto tax revenues reached IDR 126.75 billion or almost three times the value collected in the first month. As of September 30, 2022, the total acquisition of crypto taxes reached IDR 159.12 billion. The largest source of revenue comes from VAT. "Crypto tax, which at that time was a boom, we have collected Rp82.85 billion for VAT," Sri Mulyani said at a press conference last weekend. Meanwhile, the total income tax from crypto transactions, namely the transfer of hands from crypto assets reached IDR 76.27 billion. The more transactions that occur, the greater the acquisition of state income tax. The crypto tax consists of VAT on collection by non-employees and the acquisition of PPh 22 on crypto transactions through PPMSE DN and its own deposit. The imposition of taxes on cryptocurrencies is stated in the Minister of Finance Regulation (PMK) Number 68/PMK.03/2022 concerning VAT and VAT on Crypto Asset Trading Transactions. The government considers that crypto assets are widespread and become a trading commodity, so they deserve to be a tax object. The regulation stipulates that the imposition of VAT applies to the delivery of crypto assets by sellers, providing electronic facilities for crypto asset trading transactions, as well as crypto asset transaction verification services and/or management services for crypto asset mining groups (mining pools). The imposition of VAT applies to the delivery of crypto assets by sellers within the customs area and/or to crypto asset buyers within the customs area. Sri Mulyani also imposed VAT for crypto transactions against other goods or services, such as for the purchase of non-employable tokens (NFT). Trade organizers through electronic systems (PMSE) will be tasked with collecting, depositing, and reporting VATs outstanding for the delivery of crypto assets. PMSE is an organizer who carries out service activities to facilitate crypto asset transactions, including electronic wallet companies (e-wallet).