Indonesian govt sets crypto tax at 0.1pc

RIYADH, Apr 04 (Arab News): Indonesia will introduce a 0.1 per cent crypto tax from May 1, a senior Minister of Finance official has confirmed.

The levy will be charged on capital gains from crypto investments and value-added tax on crypto purchases, Bitcoin.com reported.

"That's right, 0.1 per cent PPh (income tax) and 0.1 per cent VAT (for crypto), all of which are final," Hestu Saksama, director of tax regulations for the Ministry of Finance told CNN Indonesia.

The Indonesian government has levied income tax and VAT on crypto purchases because the central bank, Bank Indonesia, and the Ministry of Trade consider crypto a commodity, not a means of payment, Saksama said.