Indonesia Tightens Crypto Tax Policy, Hikes Rates for Foreign Exchange Users

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Indonesia’s Finance Ministry has announced stricter crypto taxation, set to take effect August 1. The changes include:

• Higher seller taxes: Domestic exchange users will pay 0.21% (up from 0.1%), while overseas traders face a 1% levy (up from 0.2%).
• VAT exemption for buyers: Previously, purchasers paid 0.11%-0.22% VAT, but this will now be removed.
• Increased mining costs: VAT on mining operations will double to 2.2%, and a special 0.1% income tax for miners will be phased out by 2026.

The move appears aimed at encouraging domestic exchange use while generating additional revenue from foreign-platform transactions.