Indodax Launches Proof of Tax Report Feature for Every Crypto Transaction

Indodax launched a new feature called Tax Report Evidence (photo: Indodax)

JAKARTA - Indodax, a crypto exchange startup from Indonesia has just released a tax report feature, which allows its customers to see their monthly tax collection reports, after making buying and selling crypto transactions at Indodax.

The features currently available on the Indodax website are claimed to provide convenience and transparency to customers in terms of the nominal tax collected by Indodax which will later be paid to the government.

From there, customers can see on the website page their transaction tax collection reports from May 2022 until now, there is also an option to be able to download tax reports for certain months in PDF form.

Indodax CEO, Oscar Darmawan said that this tax collection report feature is a form of Indodax's commitment to comply with tax regulations in Indonesia and to increase customer trust.

"Since May 1, 2022, the Indonesian government has imposed regulations regarding Value Added Tax (PPN) and Income Tax (PPh) on Crypto Asset Trading transactions through Minister of Finance Regulation (PMK) Number 68," explained Oscar in his statement on Thursday, January 19.

All tax fees collected are paid to the state as appropriate to assist development in Indonesia. With the implementation of PMK 68, every crypto asset holder gets clear tax certainty with a VAT and Final Income Tax rate of a total of 0.21%.

As an industry player, Oscar agrees that this step is a fast step from the government which provides legal certainty regarding the ownership of crypto assets, and also provides ease of setting taxes for crypto investors.

"We hope that this crypto tax revenue can also build a crypto and blockchain ecosystem and help advance the digital economy in Indonesia," concluded Oscar.

As additional information, Indodax has offline counters that members can use for consultations which are located in the Sudirman business center, DKI Jakarta and Seminyak, Bali.