- Indonesian Ministry of Finance introduced new VAT and income tax rules for crypto-asset transactions
- Specified crypto-assets are exempt from VAT
- VAT imposed at 12 percent on digital platform operators and 20 percent on verification services
- Final income tax rates set at 0.21 percent for domestic platform transactions and 1 percent for foreign or unregistered platform transactions
- General income tax rules apply to digital platform operators and miners
- Deemed VAT rates set at 10 percent or 20 percent for insurance commissions
- 20 percent VAT rate applied to a portion of total construction costs for self-construction projects, excluding land
- Regulations effective from August 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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