New Crypto Tax Rates in Indonesia Effective from August 1
🔺️Higher Seller Taxes: Domestic crypto sales taxed at 0.21% (up from 0.1%), and foreign platform sales at 1% (up from 0.2%).
🔺️Mining & VAT Updates: Mining VAT doubles to 2.2%; buyer VAT removed to promote retail adoption.
🔺️Regulatory Shift: Crypto supervision moves from the Commodity Regulator to OJK and Bank Indonesia.
🔺️Market Impact: Higher foreign tax may shift trading to local exchanges; small miners face higher costs.
Impact on the Indonesian Market
Due to the sharp hike in taxes on foreign exchanges, trading activity is likely to be redirected toward domestic platforms. Alongside the removal of preferential mining tax treatment, this could lead to market consolidation among large-scale miners. Despite the long-term benefits, if a grace period is not provided, smaller players may face temporary disruptions or risk non-compliance.
