Crypto Asset Tax Value in Indonesia Reaches IDR 112.93 Billion in the First Quarter of 2024

Liputan6.com, Jakarta – The Commodity Futures Trading Supervisory Agency (Bappebti) revealed that the tax value of crypto assets in Indonesia in the first quarter of 2024 reached IDR 112.93 billion.

Head of the CoFTRA Market Development and Development Bureau, Tirta Karma Senjaya, explained that the crypto tax value is not much different compared to the previous period. However, according to him, the increase in the value of crypto asset transactions in 2024 will encourage state revenues from crypto taxes to become even greater.

“In 2022 alone, crypto taxes will contribute around 50 percent of the total fintech taxes,” said Tirta in the discussion panel on Safe Investment in the Digital Era: Crypto Asset Strategy and Regulation in Jakarta, quoted Thursday (23/5/2024).

Crypto Tax Evaluation

Regarding the amount of tax that industry players have complained about, Trita explained that currently crypto tax evaluation is still being carried out, which is not just about the amount of tax on crypto assets.

According to Tirta, crypto taxes need to be evaluated because many people trade crypto on foreign platforms, causing capital outflows and reduced transaction values ​​in the country.

“The tax charged for external exchange cannot be resolved by the DJP, so there is no equal treatment. “So the tax imposition for those trading abroad can be evaluated,” explained Tirta.

From the perspective of industry players, Tokocrypto CEO, Yudhono Rawis agrees with Tirta who said that there needs to be equal treatment for external and internal exchanges so that the value of internal transactions can be greater.

“The hope is that the crypto asset tax which consists of VAT and PPh, perhaps VAT can be reviewed. “Apart from that, it is hoped that there will be a creative scheme regarding crypto asset taxes in the country,” explained Yudhono.

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