Indonesia Hikes Crypto Taxes Up to 5x Starting August 1, Mining VAT Doubles to 2.2%
Main Idea
Indonesia is implementing significant increases in crypto taxes, including up to 5x higher transaction taxes and doubled mining VAT rates, effective August 1, to capture more revenue from its booming $39.67 billion crypto market.
Key Points
1. Crypto transaction taxes will rise from 0.1% to 0.21% for local sales and from 0.2% to 1% for overseas exchanges, while mining VAT rates double from 1.1% to 2.2%.
2. Indonesia's crypto transaction values tripled in 2024 to over 650 trillion rupiah, with more than 20 million users.
3. The tax increases reverse a 63% decline in crypto revenue in 2023, despite Bitcoin's 160% surge.
4. Over 60% of Indonesia's 21 million crypto traders are aged 18-30, driving adoption of assets like Bitcoin, Ethereum, USDT, and Solana.
5. Local exchanges, including INDODAX and Tokocrypto, have secured Physical Crypto Asset Trader licenses, with Tokocrypto holding a 43% market share.
Description
Indonesia has implemented sweeping crypto tax increases effective August 1, raising transaction taxes up to five times higher while doubling mining VAT rates, as the government seeks to capture more revenue from the booming $39.67 billion crypto market. According to Reuters , the new finance ministry regulation increases taxes on domestic crypto sales from 0.1% to 0.21%, while overseas exchange transactions face a steeper hike from 0.2% to 1%. Mining operations will see VAT rates double from 1.1...
Latest News
- Is OnlyFans Really Worth $8 Billion? What Platforms Like SUBBD Are Getting Right, ICO Hits $1M2025-08-15 15:30:46
- BlackRock Pours Over $1B into Bitcoin & Ethereum ETFs During Dip — What Do They Know?2025-08-15 14:48:16
- Bitcoin Price Prediction: Treasury ‘No Buy’ Triggers Panic Dip – Smart Money Sees Opportunity, Not Fear2025-08-15 14:28:53
- Dogecoin Price Prediction: $5B Volume Surge + Whale Buys – DOGE Could Go Higher Than Most Think2025-08-15 14:27:30
- Solana Price Prediction: Technicals Point to More Upside – Can SOL Hit $500 Within 2 Weeks?2025-08-15 14:15:06