World

Indonesia collects millions of US dollars in crypto, fintech transaction taxes

Indonesia’s tax compliance special staffer Yon Arsal has said the country has collected nearly 6.8 million USD each month since the imposition of crypto and fintech transaction taxes in May.
Indonesia collects millions of US dollars in crypto, fintech transaction taxes ảnh 1Illustrative image (Photo: Internet)

Jakarta (VNA) – Indonesia’s tax compliance special staffer Yon Arsal hassaid the country has collected nearly 6.8 million USD each month since theimposition of crypto and fintech transaction taxes in May.

Speakingat a recent retail conference, Arsal hoped that the figure will increasebecause it is only the initial stage.

The Indonesian finance ministry has set the VAT on crypto-assets purchases at 0.1%. The transactions, earnings, and capital gains will be subject to a 0.1% final income tax. This rule is effective from May 1, 2022.

Interestin digital assets has grown in Indonesia, especially during COVID-19 pandemic. Thenumber of digital asset owners amounted to 11 million as of the late 2021.

According to the Indonesia's Commodity Futures Trading Regulatory Agency, the total electronic asset transactionsreached 59.8 billion USD in 2021, up 10 times from 2020./. 

VNA
#tax compliance special staffer#Vietnamplus#Vietnam News Agency#digital assets#Indonesia's Commodity Futures Trading Regulatory Agency
Follow VietnamPlus

Related News

Indonesia to cut tax on property, car sales

Indonesia to cut tax on property, car sales

Indonesia will introduce new tax breaks on property and automotive sales this year in a bid to accelerate its economic recovery from the COVID-19 pandemic, the country's Coordinating Minister of Economic Affairs Airlangga Hartarto has said.
Indonesia raises tax revenue target for this year

Indonesia raises tax revenue target for this year

The Finance Ministry of Indonesia has raised its tax revenue target for 2022 to 9.3 - 9.5 percent of GDP, banking on the implementation of new tax regulations and continued economic recovery.

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.