The Commodity Futures Trading Regulatory Agency of Indonesia has urged a reevaluation of the country’s 0.1% capital gains tax and 0.11% VAT on crypto transactions.
Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has reportedly asked the nation’s Ministry of Finance to assess its stance on cryptocurrency taxation.
According to a recent local report, executive staff members at Bappebti have requested to reassess the government-imposed value-added tax (VAT) of 0.11% on each crypto transaction in Indonesia, as well as the 0.1% income tax on crypto.
Tirta Karma Senjaya, head of the Bureau of Market Development and Development at Bappebti explained the reason behind this is that crypto is on track to becoming an integral part of Indonesia’s broader economy in the near future.
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Source: https://cointelegraph.com/news/indonesia-crypto-tax-bappebti-report