Indonesia to impose VAT and income tax on crypto assets from May

indonesia_futures_regulator_mulls_crypto_transaction_tax

JAKARTA, April 1 (Reuters): Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1% each, starting from May 1, a tax official said on Friday, amid a boom in digital asset trading.

Interest in digital assets has surged in South-East Asia's largest economy during the Covid-19 pandemic, with the number of crypto asset holders jumping to 11 million by the end of 2021.