Indonesia Plans to Increase Crypto Taxes, Targeting Foreign Platforms with Higher Rates Next Month

Indonesia is preparing to raise taxes on cryptocurrency trading starting next month, with a particular focus on overseas platforms offering services to Indonesian investors. This move aims to boost government revenue and regulate the country’s growing digital asset sector. Taxes on income from cryptocurrencies and VAT are expected to increase significantly, which could affect trading profitability and encourage users to utilize regulated local platforms. These changes are projected to lead to a substantial increase in tax revenue collected from crypto-related activities, contributing to funding government projects and supporting economic growth. The step is part of the Indonesian government’s efforts to enhance oversight of the cryptocurrency sector and ensure compliance with local financial regulations.