Indonesia to Impose Crypto Taxes From May 1

The Indonesian government rapidly saw digital assets as potential for taxable income and its parliament has passed several pieces of legislation towards this end, Asia Business Law Journal reported.

A law imposing value-added tax and income tax on crypto-assets trade transaction goes into effect from May 1. Any income received by crypto-asset traders or crypto miners will be subject to income tax.

Read the full report: Asia Business Law Journal

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Tags: Taxation

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.