Indonesia – Tax Aspects For Crypto Transactions.

Indonesian Ministry of Finance through its Regulation No. 68/PMK.03/2022 dated March 30, 2022, governs the Value Added Tax and Income Tax on the Crypto Assets Trading Transaction (“PMK 68”). The PMK 68 which will be effective on 1 May 2022 has specific intention to cover the rapid development of Crypto Assets trading and transaction. The Government believes that the Crypto Assets as the trading commodity shall subject to Value Added Tax (VAT) and the income raising to the trading of Crypto Assets shall subject to Income Tax. read more