Indonesia Cracks Down on Crypto Taxes đ¤: Whatâs the Deal with These Crazy Rates?
Letâs break this down. Sellers using local crypto exchanges will now pay 0.21%, which doesnât sound like much until you realize how many trades happen every second. Meanwhile, overseas traders are staring at a whopping 1% tax. Oof. The government did toss buyers a bone by eliminating value-added tax (VAT), but donât get too excitedâcrypto miners are getting double-whammied with VAT jumping from 1.1% to 2.2%. And starting in 2026? Forget about that sweet 0.1% income tax rate; miners are back to paying standard rates like everyone else. Finance Minister Sri Mulyani Indrawati says itâs all about âlegal certainty.â Sure, lady, if by âcertainty,â you mean âpain.â đŹ