Cryptocurrency Tax Guide: How to Report Crypto Taxes in Indonesia

Crypto or cryptocurrency is a digital asset that uses blockchain technology to carry out transactions in a decentralized and encrypted manner. Crypto has many types, such as Bitcoin, Ethereum, Ripple, and others.

Crypto can be used for various purposes, such as investing, trading, paying for goods and services, or sending money abroad.

However, did you know that crypto also has tax obligations? Yes, in Indonesia, crypto is subject to value added tax (VAT) and final income tax (PPh) on trading transactions carried out through physical traders or non-physical traders.

Physical traders are organizers who have a business license from the relevant authority, while non-physical traders are organizers who do not have a business license.

Crypto Tax Rates in Indonesia

According to Minister of Finance Regulation (PMK) Number 68/PMK.03/2022, crypto tax rates in Indonesia are as follows:

PPN 

1% of 11% VAT or 0.1% multiplied by the transaction value, if through a physical merchant. Plus 2% of the VAT rate or 0.2% multiplied by the transaction value, if through a non-physical trader.

PPh final 

0.1% of the transaction value, if through a physical merchant. Or 0.2% of the transaction value, if not through a physical merchant.

Transaction value is the selling value or buying value of crypto recorded at the time the transaction is carried out. The transaction value must be recorded in rupiah, using the Bank Indonesia reference rate on the day of the transaction.

How to Calculate Crypto Tax in Indonesia

To calculate crypto tax in Indonesia, you can use the following formula:

• VAT = (VAT rate x transaction value) + (VAT additional rate x transaction value)
• Final PPh = final PPh rate x transaction value

Example:

You buy 1 Bitcoin for IDR 500 million through a physical trader. Then, you sell 1 Bitcoin for IDR 600 million through a non-physical trader. How much crypto tax do you have to pay?

Answer:

• Purchase VAT = (0.1% x IDR 500 million) + (0% x IDR 500 million) = IDR 500 thousand
• Sales VAT = (0.1% x IDR 600 million) + (0.2% x IDR 600 million) = IDR 1.8 million
• Final income tax on purchases = 0.1% x IDR 500 million = IDR 500 thousand
• Final sales income tax = 0.2% x IDR 600 million = IDR 1.2 million
• Total crypto tax = purchase VAT + sales VAT + final purchase PPh + final sales PPh = IDR 500 thousand + IDR 1.8 million + IDR 500 thousand + IDR 1.2 million = IDR 4 million

How to Report Crypto Taxes in Indonesia

To report crypto taxes in Indonesia, you need to follow these steps:

• Prepare cutting evidence and data as mentioned above.
• Log in to your DJP Online account by entering your NPWP, password and security code.
• After logging in, select the "Report" menu and click "e-Form PDF".
• Select “Create SPT” and answer a few questions in it.
• Fill in the SPT 1770 form with the appropriate data, including income from crypto sales in the "Other Income" section.
• Upload proof of deduction and other supporting documents if any.
• Click “Save” and “Send” to submit your tax return online.
• Print an electronic receipt as proof of your SPT reporting.

Tips for Optimizing Crypto Taxes in Indonesia

To optimize crypto taxes in Indonesia, you can do the following tips:

• Record every crypto transaction you make in detail, including date, platform, type, amount, price and transaction fees.
• Use software or applications that can help you manage and track your crypto transactions easily and accurately.
• Follow developments and changes in crypto tax regulations in Indonesia, so that you don't miss out on information and can adapt well.
• Consult a professional tax advisor if you have questions or difficulty calculating and reporting your crypto taxes.

Thus the article about panduan pajak cryptocurrency. Hopefully this article is useful and helps you understand and fulfill your tax obligations. If you are interested in investing or trading crypto, you can visit Bittime.com, the most trusted and complete crypto platform in Indonesia. Keep trying and good luck!

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read also:

What is Day Trading?

What is Margin Trading?

What's that Arbitrage Trading?

What Is Grid Trading Bot?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.