Indonesia to Increase Crypto Transaction Taxes by August 1

Indonesia plans to increase taxes on crypto transactions effective August 1, according to new regulations from the Ministry of Finance.

Tax on domestic exchange transactions rises to 0.21% from 0.1%
Tax on overseas exchange transactions increases to 1% from 0.2%
Crypto buyers exempt from value added tax (VAT)
Total transaction value on exchanges surpassed 650 trillion rupiah ($39.5 billion) in 2024
20 million users engaged with exchanges last year
Increased VAT for mining crypto from 2.2% to 1.1%