The Ministry for Finance has issued Regulation of the Minister for Finance No. 68/PMK.03/2022 introducing Value Added Tax and Income Tax on certain crypto asset trading transactions, which has been in force since May 1, 2022. The calculation of the Value Added Tax payable, as referred to in Article 2 letter (a) is,:
- 1% (one percent) of the Value Added Tax rate, multiplied by the transaction value of physical trading of crypto assets; or
- 2% (two percent) of the Value Added Tax rate, multiplied by the transaction value of crypto assets where the crypto assets are not physically traded.*
Income Tax is calculated at the rate of 0.1% of the transaction value of the crypto asset transaction.
If the organiser of trading is not a physical trader, then the income tax rate is 0.2% of the transaction value. **
Income tax on income from crypto asset transactions must be reported and deposited online by the organiser of the trading.
*Article 5 of Regulation of the Minister for Finance No. 68/PMK.03/2022
**Article 21 section 4 of Regulation of the Minister for Finance No. 68/PMK.03/2022
