Indonesia’s crypto tax revenue continues to increase, reaching $ 36.40 million years. The government is preparing to increase the tax rate for crypto transactions this month.
Local media outlet Tirto managed to reach between RP500 billion ($ 31.25 million) to RP600 billion ($ 36.40 million) ($ 36.40 million) from RP500 billion ($ 36.40 million) to the RP600 billion ($ 36.40 million) on the basis of the rift year for data direction by the local media outlet Tirto, Indonesia.
For the first time in 2022, National launched a collection tax from Crypto Revenue, the cost of this number is more than $ 15 billion in a year. Although the amount of crypto tax revenue took a little dip in that year, it increased again in 2024 as it had reached more as a $ 37.98 ballian in a year.
The increase in crypto tax revenue also coincides with a grusting number of crypto transactions per year, which became $ 650 trillion in 2024.
In fact, the number of Indonesian crypto users has increased significantly, crossing 20 million people. It represents about 7% of the population. Compared to 2022, when the Crypto tax revenue collection was first implemented, the number of Crypto traders was still 11.2 million.
This means that at a gap of just three years, the number of crypto traders in Indonesia is almost double. This reflects the growing crypto industry in the nation that has seen an influx in homegron crypto exchanges such as Indodax, Tocropy, Pintu, and more.
Indonesia today enhances its crypto tax
On the first day today, the party reported a crypto transaction to the new Finance Ministry to be implemented in August. From today, crypto assets trading through domestic exchanges will have to pay 0.21% tax on transaction prices.
Previously, the tax on crypto transactions was set to 0.11%.
The tax growth for the foreign crypto exchange is even higher, which was to pay an additional 0.2% tax on crypto transactions made by Indonesian users. However, in the new law they need to pay 1% for foreign crypto firms, growing 0.8% starting from this month.
On the other hand, crypto buyers will not have longer to pay the value to pay or pay VAT. The new regulation applies VAT to customers, which was set over 0.11% to 0.22%.
