Indonesia Introduces Income Excise For Crypto Trading - Kakiforex.com - Financial Market Media No. 1 in the World Indonesia Introduces Income Excise For Crypto Trading Indonesia Introduces Income Excise For Crypto Trading

May 11, 2021

Indonesia Introduces Income Excise For Crypto Trading

Indonesia is rumored to be introducing profit excise on crypto currency trading.


However, these reserves are still in the conversation phase.


According to the spokesperson for the Indonesian excise official, Neilmaldrin Noor, any profit generated by capital must pay excise and report it to the responsible party.


For knowledge, Indonesia views crypto assets as commodity trading. However, the largest country in Southeast Asia at the same time blocked the use of crypto as a payment medium.



This reserve is raised on a loose month. At that time, the COO of Tokocrypto, Teguh Kurniawan Harmanda, told several industry players and royal agencies including the Commodity Futures Trading Supervisory Agency (Bappebti) to hold a discussion focusing on how to introduce excise taxes on crypto transactions.


Tokocrypto is a local crypto exchange platform that was developed in Jun 2017.


According to Harmanda, the initial discussion decided the level of excise to be imposed was as much as 0.05%, which is lower than the income tax on stock trading, where the current record was 0.1%.


Meanwhile in Malaysia, crypto investors need to comply with Section 3 of the 1967 Revenue Excise Act by declaring excise on a Borang B before or on 30 Jun each year.