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.
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.
I think this is good for the future of cryptocurrencies in the country. They are implementing a tax on crypto-assets which means they are considering crypto as a legal commodity. People from that country now at least use crypto under official jurisdiction. I am sure they will legalize crypto in the future officially. 0.1% is not actually discouraging like the 30% tax in India.