Indonesia’s crypto tax revenue has been on a wild ride, complete with more ups and downs than a Jakarta rollercoaster. 🌋 As the government tightens its grip in 2025, the numbers are as predictable as a Sedaris family Thanksgiving.
Since its debut in 2022, Indonesia’s crypto tax revenues have been the financial equivalent of a soap opera. According to a recent report, the government raked in IDR 24.6 billion in 2022. By 2024, that number ballooned to IDR 62 billion—a jump so dramatic, it could only be described as *crypto-magic*. ✨ But, as fate (and the market) would have it, 2023 saw a nosedive to IDR 22 billion. Fast forward to 2025, and the year-to-date revenue is a mere IDR 11.5 billion. Someone call the financial therapist! 💸
Crypto Tax Income Plummets to IDR 115 Billion in 2025—Or, How to Turn a Goldmine into a Lemonade Stand 🍋
The Directorate General of Taxes (DGT) officials have been quick to point out that crypto tax revenue is about as stable as a Jenga tower in an earthquake. Initially, the Ministry of Finance slapped on a Final Value Added Tax (VAT) and Article 22 Income Tax (PPh) for crypto transactions, because nothing says “welcome to the future” like a good old-fashioned tax. 📜
Bimo Wijayanto, the Director General of Taxes, claims crypto taxes have consistently generated IDR 500-600 billion annually. Sure, Jan. 🧐 Meanwhile, Hestu Yoga Saksama, the Director of Tax Regulations I, chimed in with the numbers: IDR 246 billion in 2022, a slight dip to IDR 220 billion in 2023, and a rebound to IDR 620 billion in 2024. It’s like a financial yo-yo, but with fewer laughs.
Related Reading: Indonesia’s Cryptocurrency Market: 335.9% Growth in 2024—Or, How to Make a Fortune While Losing Your Mind 🤑
But 2025? Oh, 2025. The projected revenue is a paltry IDR 115 billion. Blame it on the crypto market’s mood swings—Bitcoin’s volatility has turned tax revenue into a game of “Will it? Won’t it?” 🎢
Indonesia Hikes Local Crypto Tax to 0.21%—Because Nothing Says “We Love You” Like a Tax Increase 💔
In a move that screams “we’re serious about this,” the Ministry of Finance has hiked the tax on selling crypto through local platforms to 0.21%, up from 0.1%. Foreign platforms? A whopping 1%, up from 0.2%. It’s like they’re saying, “Use local exchanges, or else.” 🕵️♂️ Analysts, ever the optimists, note that crypto asset values (and tax revenue) could go either way, depending on the market’s whims. Because, you know, predictability is overrated.
To facilitate this chaos, the Ministry of Finance dropped three new regulations: PMK Number 50 (VAT and income tax on crypto), PMK Number 53 (amending VAT provisions), and PMK Number 54 (tax system implementation). Because nothing says “fun” like a trio of ministerial decrees. 📑
Yon Arsal, Expert Staff of Tax Compliance, emphasized inter-agency coordination. The government is trying to align with the Financial Services Authority (OJK), because nothing bonds like shared paperwork. 📋
Future revenue? It’s anyone’s guess. Investor behavior, international prices, and regulatory transparency will all play a part. Indonesia’s crypto journey is like a reality show—dramatic, unpredictable, and impossible to look away from. 🍿
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2025-08-01 23:08