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Regulations governing VAT and income tax treatment of cryptoasset trading issued

Regulation Number 68/PMK.03/2022 (PMK-68) confirming the VAT and income tax treatment of cryptoasset trading in Indonesia is effective as from 1 May 2022 and includes a definition of relevant terms and types of cryptotransaction covered; confirmation of the VAT, Article 22 income tax (in the form of withholding tax (WHT)), and income tax treatment of each type of transaction; procedures for appointment of a foreign cryptoexchanger; and compliance obligations for exchangers. PMK-68 was issued by the Indonesian Minister of Finance (MoF) on 30 March 2022.

Source Deloitte

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