Warning: unlink(/tmp/jnewslibrary-TJDILI.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142
Indonesian Government Sets Crypto Tax at 0.1% to Be Levied Starting in May | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.00-2.80%
  • ethereum
    Ethereum(ETH)
    $0.00-2.91%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.00-0.19%
  • binancecoin
    BNB(BNB)
    $0.00-3.43%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.06%
  • ripple
    XRP(XRP)
    $0.00-2.17%
  • binance-usd
    Binance USD(BUSD)
    $0.00-0.09%
  • cardano
    Cardano(ADA)
    $0.00-3.35%
  • dogecoin
    Dogecoin(DOGE)
    $0.00-4.63%
  • matic-network
    Polygon(MATIC)
    $0.00-1.43%
  • okb
    OKB(OKB)
    $0.00-6.25%
  • solana
    Solana(SOL)
    $0.00-4.26%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.00-3.00%
  • polkadot
    Polkadot(DOT)
    $0.00-3.77%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.00-6.67%
  • litecoin
    Litecoin(LTC)
    $0.00-4.79%
  • avalanche-2
    Avalanche(AVAX)
    $0.00-5.52%
  • tron
    TRON(TRX)
    $0.00-1.84%
View All
Coinparative
Home News

Indonesian Government Sets Crypto Tax at 0.1% to Be Levied Starting in May

April 4, 2022
in News
242 10
A A
0
Indonesian Government Sets Crypto Tax at 0.1% to Be Levied Starting in May
Share on FacebookShare on Twitter

The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases.

Indonesia to Start Taxing Crypto Income at 0.1%

The Indonesian Directorate General of Taxes, the Ministry of Finance, has set income tax (PPh) on capital gains from crypto investments and value-added tax (VAT) on crypto purchases at 0.1%.

Hestu Yoga Saksama, director of tax regulations for the Ministry of Finance, told CNN Indonesia Friday:

That’s right, 0.1% PPh and 0.1% VAT (for crypto), all of which are final.

He added that both the income tax and VAT on crypto purchases will be imposed starting May 1.

According to the director, the Indonesian government has levied income tax and VAT on crypto purchases because the central bank, Bank Indonesia, and the Ministry of Trade consider crypto a commodity, not a means of payment. He clarified:

Crypto assets will be subject to VAT because they are a commodity as defined by the trade ministry. They are not a currency … So we will impose income tax and VAT.

The VAT rate on crypto assets is well below the 11% levied on most goods and services in Indonesia, Reuters reported, adding that the 0.1% income tax on capital gains matches that on shares listed on the Indonesian stock exchange.

Meanwhile, India has begun taxing crypto income at 30% without allowing loss offsets or deductions. In addition, a 1% tax deducted at source (TDS) will be levied from July 1.

What do you think about how Indonesia is taxing crypto income and transactions? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



Source: Bitcoin News

Share196Tweet123Share34Pin44ShareSend

Related Articles

FTX Bankruptcy Judge Allows Company to Subpoena Founder Bankman-Fried, Other ‘Insiders’
News

FTX Bankruptcy Judge Allows Company to Subpoena Founder Bankman-Fried, Other ‘Insiders’

February 9, 2023
1.4k
Ethereum And Bitcoin Offer Stability, Orbeon Protocol Offers High Returns
News

Ethereum And Bitcoin Offer Stability, Orbeon Protocol Offers High Returns

February 9, 2023
1.4k
Deutsche Bank in Talks to Invest in 2 German Crypto Firms: Bloomberg
News

Deutsche Bank in Talks to Invest in 2 German Crypto Firms: Bloomberg

February 9, 2023
1.4k
Indian Crypto Exchange Wazirx Calls Binance’s Allegations ‘False and Unsubstantiated’ — Seeks Recourse
News

Indian Crypto Exchange Wazirx Calls Binance’s Allegations ‘False and Unsubstantiated’ — Seeks Recourse

February 9, 2023
1.4k
Coinbase CEO says SEC wants to ban retail staking
Blockchain News

Coinbase CEO says SEC wants to ban retail staking

February 9, 2023
1.4k
The Year DAOs Follow the Law?
News

EminiFX CEO Eddy Alexandre Set to Plead Guilty to Role in Alleged $59M Ponzi Scheme

February 9, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Warning: unlink(/tmp/jnewsfirstload-52HVGa.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142