The Indonesian Government will begin collecting VAT on financial technology services on 1 May 2022, according to the latest Finance Ministerial Regulation No. 69/PMK.03/2022 signed by Finance Minister Sri Mulyani on 30 March 2022.
It was previously established that the service is subject to tax. The new policy levies VAT on service fees provided by parties that facilitate digital transactions (i.e., service fees associated with putting money into a digital wallet), as opposed to VAT on the total value.
Source GVC
