Indonesia Crypto Tax: Sweeping Changes Unveiled for Digital Assets

Key Points

1. Tax rates for sellers on overseas exchanges will increase from 0.2% to 1%, while domestic platform sellers will see a rise from 0.1% to 0.21%.

2. Value-Added Tax (VAT) on cryptocurrency buyers will be eliminated, providing a notable benefit for buyers.

3. VAT on crypto mining will double from 1.1% to 2.2%, and the special income tax on mining (0.1%) will be phased out by 2026, shifting to standard personal/corporate rates.

4. The changes reflect Indonesia's strategy to formalize the crypto market and align with global regulatory trends for digital assets.

5. Sellers on overseas exchanges will face a fivefold tax increase, making it significantly more expensive compared to domestic platforms.