Crypto Tax Rate Indonesia: Capital Gains Guide for 2024

Understanding Indonesia’s Crypto Tax Landscape

Indonesia has established clear cryptocurrency taxation rules under the Directorate General of Taxes (DGT). Since May 1, 2022, crypto assets are classified as commodities subject to capital gains tax, not currencies. All transactions – including buying, selling, and trading – trigger tax events. The regulatory framework is governed by Finance Ministry Regulations PMK-68/2022 and PMK-69/2022, ensuring crypto platforms act as tax collectors.

How Capital Gains Tax on Crypto Works

Indonesia imposes a dual-tax system on crypto transactions:

• Income Tax (PPh 22): 0.1% final tax on total transaction value for sellers. Applied automatically by registered exchanges.
• VAT (PPN): 0.11% levy on purchase value for buyers. Also collected at transaction point.

Unlike traditional capital gains models, Indonesia taxes the entire transaction amount, not just profits. This simplifies compliance but increases costs for high-frequency traders.

Calculating Your Crypto Tax Obligations

Use this formula for seller liabilities:

Income Tax = Transaction Value × 0.1%

Example: Selling Rp 50,000,000 worth of Bitcoin? Tax due = Rp 50,000,000 × 0.001 = Rp 50,000

Buyers pay separately: VAT = Purchase Value × 0.11%

Note: Airdrops, staking rewards, and mining income are taxed as ordinary income at progressive rates up to 35%.

Reporting Crypto Transactions: Step-by-Step

1. Verify exchange compliance: Use only Bappebti-registered platforms (e.g., Tokocrypto, Indodax) that auto-withhold taxes.
2. Retain transaction records: Keep CSV exports or API logs for 10 years.
3. Annual tax return (SPT): Report total crypto gains in Form 1770 under “Other Income” even with final tax withholding.
4. Foreign platform users: Self-calculate and pay via PP 23/2018 scheme if no Indonesian tax agent.

Recent Regulatory Updates (2024)

Key changes impacting investors:

• Stricter KYC requirements for exchanges
• Expanded definition of “crypto assets” to include NFTs and DeFi tokens
• Penalties for non-compliance increased to 200% of owed taxes
• Tax treaties with Singapore and Australia to prevent double taxation

5 Compliance Tips for Crypto Investors

• Track cost basis: Use tools like Koinly or Pajak.io for IDR-denominated records
• Declare all wallets: Including private wallets in annual asset declarations
• Offset losses: Capital losses reduce taxable income (requires documentation)
• Monitor regulatory alerts: Subscribe to DGT’s crypto task force updates
• Consult professionals: Engage registered tax consultants for complex cases

Frequently Asked Questions (FAQ)

Is crypto-to-crypto trading taxable in Indonesia?

Yes. Every trade (e.g., BTC to ETH) is considered two taxable events: a sale of the first asset and purchase of the second, triggering both income tax and VAT.

What if I hold crypto long-term?

No reduced rates. The 0.1% tax applies regardless of holding period, unlike property capital gains which have tiered rates.

How do I pay taxes for peer-to-peer (P2P) trades?

You must self-report via the DGT’s e-billing system using tax code 411219-900 and pay within 15 days of the transaction.

Are there tax exemptions?

Only transactions below Rp 60 million annually are exempt from VAT. Income tax applies to all sales regardless of amount.

What happens if I use international exchanges?

You’re responsible for calculating and paying both taxes manually. Failure may result in audits and penalties up to Rp 4 billion.

Can I deduct transaction fees?

Yes. Exchange fees, gas costs, and blockchain charges reduce your taxable transaction value if properly documented.