According to Reuters, the government will impose an income tax and VAT on cryptocurrency assets starting May 1. Regulators are also working on implementing regulations. This was announced by tax spokesman Hestu Yoga Saksama.
“Crypto-assets will be subject to VAT because they are a commodity. They are not currency,” he said.
The 0.1% capital gains tax is in line with the rate levied on Indonesian investors from stock trading.
As of last July, 7.4 million Indonesians had invested in cryptocurrency.