Quote from: laredo7mm on Today at 08:34:07 PM

Quote from: Coinshots on April 02, 2022, 08:26:56 AM

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.

That could be a small tax to encourage everyone to declare their crypto profit, and once Indonesia have the details already of those who are into cryptocurrency, they will surely increase that rate so don’t be complacent for that. Although this is a good start of adoption in Indonesia, its just that people should consider everything if they want to pay taxes especially their security and their anonymity.