VAT for Crypto Asset Trading Transactions

– This Regulation of the Minister of Finance of the Republic of Indonesia regulates:
Crypto assets are intangible commodities in the form of digital assets, using
cryptography, peer-to-peer networks, and distributed ledgers, to manage
creation of new units, verify transactions, and secure transactions without
the intervention of the other party. Upon delivery: Intangible Taxable Goods in the form of:
Crypto Assets by Crypto Asset Sellers; Taxable Services in the form of services for providing facilities
Electronics used for Crypto Asset trading transactions, by
Trade Operators Through Electronic Systems; and/or Taxable Services
in the form of Crypto Asset transaction verification services and/or group management services
Crypto Asset Miner (mining pool by Crypto Asset Miner), subject to Tax
Value Added. Submission of Crypto Assets includes the submission of Crypto Assets by
Seller of Crypto Assets in the Customs Area and/or to Buyers of Crypto Assets in the
within the Customs Area, through Electronic Facilities organized by
Trade Operators Through Electronic Systems. Income from Asset transactions
Crypto received or obtained by the Trading Operator Through the System
Electronic acting on its own behalf which is carried out through Electronic Means
provided by Trade Operators Through other Electronic Systems,
subject to Income Tax.
NOTES : – This Ministerial Regulation comes into force on May 1, 2022.

Source: go.id

---

---