Post-Indonesia planning to change taxes on cryptocurrencies? appeared first on Coinpedia Fintech News
Indonesia's Futures Trading Regulatory Agency has reportedly asked the government to reconsider its policy on taxing cryptocurrencies due to their important role in Indonesia's economic development. Currently, crypto is considered a commodity in the country and digital assets are taxed at a VAT rate of 0.11% on each crypto transaction and an income tax of 0.1% on capital gains. Total government revenue from crypto taxes in Indonesia stood at around $2.49 million in January. But all this is likely to change when crypto oversight is transferred to the country's largest financial services regulator, the OJK, in 2025.