Indonesia to levy 0.1% tax on crypto transactions and capital gains from May 1st.
Indonesia has become the last country to take steps to tax crypto assets, according to a report by Reuters. The country announced that as of May 1, it will levy a 0.1% tax on crypto-asset transactions. In the statement made by Hestu Yoga Saksama, the official responsible for taxes, it was noted that they are working on the taxation in question. The following statements were made in the statement made on the subject:
“Crypto-assets will be subject to VAT as they are a commodity defined by the ministry of commerce. They are not currency.”
As of last July, the number of Indonesians investing in crypto assets is estimated to be 7.4 million.
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