๐ฎ๐ฉ Indonesia Raises Crypto Trading Taxes, Targets Overseas Exchanges..๐ฅ๐ฅ๐ฅ
โจโจ The tax increases reflect Indonesia's growing crypto market, where transaction values tripled in 2024 to over 650 trillion rupiah ($39.67 billion). The country now has more than 20 million crypto exchange users, exceeding its stock market investor base, the news wire said.
โป๏ธ โป๏ธ Under the new structure, sellers on domestic crypto exchanges will pay 0.21% tax on transaction value, up from the previous 0.1% rate. Sellers using overseas exchanges face a more substantial increase to 1%, jumping from the prior 0.2% rate.
โค๏ธโ๐ฅโค๏ธโ๐ฅ The changes eliminate value-added tax (VAT) for crypto buyers, who previously paid 0.11-0.22% VAT under the old system. However, crypto mining faces higher taxation, with VAT rates rising to 2.2% from 1.1%.
๐ฑ๐ฑ Beginning in 2026, crypto mining income will be subject to standard personal or corporate tax rates rather than the current 0.1% special income tax rate.
โค๏ธโ๐ฉนโค๏ธโ๐ฉน Cryptocurrencies are legal for trading in Indonesia but cannot be used as payment methods under current regulations..
๐๐ Beginning August 1, new finance ministry rules will impose a 1% levy on crypto sales through foreign exchanges, up sharply from the current 0.2%, while transactions on local platforms face increases from 0.1% to 0.21%, according to Reuters.
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