Ministry of Finance Regulates Crypto Tax as a Financial Instrument
JAKARTA – The Ministry of Finance plans to expand tax regulations on cryptocurrency. Until now, crypto has only been taxed in its function as a commodity.
However, the Ministry sees that cryptocurrencies are increasingly being used as financial instruments. This was stated by Director General of Taxes, Bimo Wijayanto, on Tuesday (July 22) in Jakarta.
According to Bimo, as quoted from kontan.co.id, the policy will also broaden the tax base for digital transactions as part of the strategy to boost revenue in 2026.
READ: Indonesia Officially Imposes Tax on Crypto Assets Per 1 May 2022
Crypto Supervisory Transferred to OJK
The reclassification of crypto assets beyond just commodities is marked by the transfer of crypto trading supervision from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) and Bank Indonesia.
This transfer was formalized through a Handover Minutes (BAST) and Memorandum of Understanding (MoU), signed by the involved parties on Friday, January 10. The signatories of the BAST and MoU included:
- Acting Head of Bappebti, Tommy Andana
- Assistant Governor of Bank Indonesia, Donny Hutabarat
- Deputy Commissioner for Supervision of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets at OJK, Moch. Ihsanuddin
- Deputy Commissioner for Supervision of Capital Market Investment Management and Securities Institutions at OJK, I.B. Aditya Jayaantara
Development of Crypto Tax
Previously, the government had already begun collecting tax on crypto transactions, specifically Value Added Tax (VAT) and Income Tax Article 22.
Regulations on crypto taxation as a commodity are outlined in Minister of Finance Regulation (PMK) Number 63/PMK.03/2022. This regulation, effective from May 1, 2022, is a derivative of the Law on the Harmonization of Tax Regulations (HPP Law).
From January to March 2025, the government collected IDR 1.21 trillion in crypto tax revenue. For the full year of 2024, total crypto tax collected amounted to IDR 1.09 trillion. (ASP/KEN)
