Overview
- From August 1, sellers on domestic exchanges face a 0.21% tax on transaction value, up from 0.1%, while trades on offshore platforms incur a 1% levy instead of 0.2%.
- Crypto buyers will no longer pay value-added tax, removing the previous 0.11–0.22% VAT charge on purchases.
- The VAT on crypto mining increases to 2.2% from 1.1%, and the 0.1% special mining income tax will be phased out in favor of standard personal or corporate rates in 2026.
- The overhaul builds on January’s reclassification of cryptocurrencies as financial assets and seeks to tap revenue from a market that grew to over 650 trillion rupiah in transaction volume last year.
- Major exchange Tokocrypto welcomed the clarity but requested a minimum one-month grace period for firms to adjust to the new rules.