Crypto Tax Revised: VAT Removed, Here’s the Reason and Its Impact

Jakarta, July 22, 2025 – The Indonesian government is preparing a major revision to its cryptocurrency taxation policy. This move is driven by the reclassification of crypto assets from commodities to financial instruments, following the transfer of regulatory authority from Bappebti to the Financial Services Authority (OJK).

Status Shift: From Commodity to Financial Instrument

In a press conference, Director General of Taxes, Bimo Wijayanto, stated:

“Previously, crypto was regulated as a commodity. Now, as it transitions to a financial instrument, the regulations must also be adjusted,”
(he emphasized as quoted by Investortrust.id and Finance.detik.com).

This change requires amendments to PMK 81/2024, which classified crypto as a commodity, to align with POJK 27/2024, which recognizes it as a digital financial asset.

PMK Revision: VAT Removed, Income Tax Remains

The planned revision eliminates Value-Added Tax (VAT) on crypto transactions—bringing its treatment in line with stocks and mutual funds. Currently, PMK 81/2024 imposes VAT at 0.11%–0.22%.

However, the final income tax (PPh) rate of 0.1%–0.2% is expected to remain as a stable source of state revenue, considering crypto tax contributions reached Rp 1.2 trillion in Q1 2025, according to CNBC Indonesia.