Hi Tokonauts!
Let's discuss everything you need to know about current government regulations regarding Crypto Tax.
Explanation of Government Regulation No. 68/PMK.03/2022
Application of taxes Based on Minister of Finance Regulation No. 68/PMK.03/2022 (PMK68) concerning Value Added Tax and Income Tax Regulations on Crypto Asset Trading Transactions is the obligation of crypto asset traders registered with BAPPEBTI. This regulation is a signal of government support in legitimizing crypto assets in Indonesia.
With the implementation of PMK 68, every holder of crypto assets will get clear tax certainty at friendly rates. Before PMK 68 was implemented, there was no special treatment for crypto assets owned by investors so that they would be categorized as part of other income. This other income will be part of the annual SPT report with tiered rates of up to 35%. The application of PMK68 with a final VAT and PPh rate of a total of 0.21% can be concluded to be more profitable than other tiered income rates.
Implementation
PPn and PPh (0.21%) will be applied as of May 1, 2022, bringing the total deduction to 0.31% (0.1% trading fee added with 0.21% PPn & PPh). This combination of deductions is done temporarily so that implementation can be carried out on time since the socialization begins, where crypto asset traders are encouraged to apply taxes starting May 1, 2022.
Example of Transaction Calculation Scheme
- Fiat Crypto Asset Transactions - Crypto
Subject to 0.11% VAT and 0.1% PPH.
|
User |
Beginning Balance |
Tax |
End Balace |
|
A |
1 BTC |
PPh : 0,1%* 600.000.000 = Rp600.000 |
Rp599.400.000 |
|
B |
Rp600.000.000 |
PPN: 0.11%* 1 BTC= 0,0011 BTC |
0.9989 BTC |
*Price of 1 BTC = IDR 600,000,000
- Crypto Asset Swap Transactions - crypto
Subject to 0.11% VAT tax and 0.1% PPH tax on each crypto asset.
|
User |
Beginning Balance |
Tax |
End Balance |
|---|---|---|---|
|
A |
1 BTC |
PPh : 0,1%*0,01 BNB = 0,00001 BNB PPN: 0,11%*1 BTC = 0,0011 BTC |
0,009979 BNB |
|
B |
0,01 BNB |
PPh : 0,1%*1 BTC = 0,001 BTC PPN: 0,11%*0,01BNB= 0,000011 BNB |
0,9979 BTC |
*Price of 1 BTC = 0.01 BNB
- Fund transfer transactions
Subject to 0.1% VAT tax.
Fund transfer transactions include but are not limited to: Transactions between users, Airdrop, etc
Tokocrypto as one of the Prospective Traders of Physical Crypto Assets Registered by BAPPEBTI which implements Good Corporate Governance will always obey and comply with the laws and regulations that apply in Indonesia.
In implementing PMK68, Tokocrypto is going through a period of transition and adjustment. Several additional tax-related features will be coming soon to help Tokonauts transact on Tokocrypto easily under the new applicable regulations.
Further information about Tokocrypto:
Telegram: Official Channel Tokocrypto | Official Group Tokocrypto
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