Tokocrypto Launches Crypto Tax Proof Feature for PMK 68 Support Users

Tokocrypto launched a tax proof feature (photo: Tokocrypto)

JAKARTA - Tokocrypto, a Crypto Asset Trader platform that is officially registered with the Ministry of Trade's CoFTRA, launched a new User Crypto Tax Receipt feature, as a way to carry out regulations related to the digital asset industry in Indonesia.

The new feature will provide reports on transactions that users make and tax deductions on a regular basis in accordance with the applicable PMK 68 regulations. Apart from that, this feature is also proof of the transparency that Tokocrypto runs to all of its customers.

This launch is in line with Minister of Finance Regulation (PMK) Number 68/PMK.03/2022 concerning Value Added Tax and Income Tax on Crypto Asset Trading Transactions. This regulation has been in force since May 1, 2022.

Proof of withholding tax will be one of the reporting instruments needed in the SPT reporting process, Crypto Asset Traders are required to provide proof of withholding tax for users who have registered their NPWP. That is why, the company claims that the Tax Evidence feature will make it easier for users to report annual taxes.

"As one of the officially registered Crypto Asset Traders in Indonesia, Tokocrypto always complies with existing regulations, one of which is related to PMK 68. As time goes by, Tokocrypto can finally release the Tax Evidence feature as a form of transparency and assist customers in annual tax reporting, " said VP Corporate Communication Tokocrypto, Rieka Handayani in a statement received.

This Proof of Tax feature provides detailed data such as the completeness of trade transactions carried out by Tokocrypto customers, the collector's name and NPWP, Value Added Tax (VAT) and Income Tax (PPh) rates to tax payment status. This feature can be accessed by customers via the desktop platform or the Tokocrypto website.

"It is ensured that all Tokocrypto customers have paid crypto transaction taxes according to applicable regulations. Tokocrypto has strengthened a system that requires customers on its platform to comply with taxes. The existence of this tax regulation can have a positive effect on certainty for investors and crypto industry players in Indonesia. We hope the huge revenue potential of crypto assets can be optimized for people's welfare," said Rieka.

This feature was also previously launched by Indodax, a crypto exchange startup from Indonesia by releasing a tax report feature, which allows its customers to view their monthly tax collection reports, after making buying and selling crypto transactions at Indodax in mid-January.