Indonesia’s Bitcoin Tax Revenue Surges to 62 Billion Rupiah in 2024 Amid Regulatory Overhaul

Key Points

1. Indonesia's crypto tax revenue reached 62 billion rupiah in 2024, up from 22 billion rupiah in 2023, marking a significant increase.

2. Regulatory changes included a 1% tax rate on overseas platforms and 0.21% on domestic platforms, along with the cancellation of buyer’s value-added tax.

3. The crypto user base in Indonesia surpassed 20 million, outnumbering local stock market investors, contributing to the tax revenue growth.

4. Early 2025 figures show 11.5 billion rupiah collected, indicating a continued upward trend in tax revenue.

5. The Financial Services Authority's oversight and updated regulations aim to enhance tax compliance and market development.