Indonesia Increases Crypto Tax to 0.21%, Exempts VAT on Assets, Effective August 1

• Indonesia increases final income tax on crypto asset sales to 0.21% of transaction value
• Crypto asset transactions will not be subject to VAT
• Crypto will be treated as a security
• VAT will apply to crypto trading platforms and crypto mining verification services
• Crypto mining services will have a new effective VAT rate of 2.2%
• The new rule is effective from Aug. 1

Source: news.bloombergtax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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