- QRIS and e-money transactions are exempt from the 12 percent VAT according to the Coordinating Ministry for Economic Affairs Airlangga Hartarto
- The exemption applies to QRIS transactions both within Indonesia and in other Asian countries that use the system
- The 12 percent VAT, effective from January 1, 2025, applies only to goods and services, not the transaction systems like QRIS or e-toll
- Essential commodities such as wheat flour, Minyakita cooking oil, and industrial sugar will also be exempt from the VAT increase
- Toll road fees, healthcare services, and education services will not face the new 12 percent VAT rate, with some exceptions
- Specific goods and services subject to the 12 percent VAT will be identified later
- Electronic money services are not exempt from VAT under the Harmonization of Tax Regulations Law
- The upcoming VAT increase to 12 percent will also apply to electronic money transactions
- Detailed regulations on VAT for electronic money and other fintech services are outlined in Minister of Finance Regulation 69 of 2022
- VAT applies to various fees associated with electronic money services including registration, balance top-up, and transaction payment fees
Source: en.antaranews.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.
