2024

April

Karma

<a href="https://bitcoinworld.co.in/indonesia-ministry-of-finance-urged-to-review-crypto-tax-policy/" title="Indonesia’s Ministry of Finance Urged To Review Crypto Tax Policy" rel="noopener noreferrer nofollow"></a>
Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) is reportedly <a href="https://m.bisnis.com/amp/read/20240228/94/1744746/bappebti-minta-sri-mulyani-evaluasi-pajak-kripto" rel="noopener noreferrer nofollow">asking</a> the Ministry of Finance to review the current tax policy for crypto transactions.&nbsp;
This request comes as the agency anticipates crypto to play a more significant role in the nation’s future economy.
Bappebti officials, led by Tirta Karma Senjaya, head of the Bureau of Market Development and Development, argue that the 0.11% value-added tax (VAT) and 0.1% income tax imposed on crypto transactions require reassessment.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bappebti-urged-indonesia-to-reconsider-changes-in-crypto-taxation-amid-industry-concerns/" aria-label="“Bappebti Urged Indonesia To Reconsider Changes In Crypto Taxation Amid Industry Concerns” (Edit)" rel="noopener noreferrer nofollow">Bappebti Urged Indonesia To Reconsider Changes In Crypto Taxation Amid Industry Concerns</a>
Their reasoning centers around the growing integration of crypto into Indonesia’s financial landscape.
While the current tax structure has been in place since April 2022, generating approximately $2.49 million in January 2024 alone, Senjaya emphasizes the need for annual reviews, aligning crypto taxes with the standard practice for other tax regulations.
This move comes amidst a period of significant growth in the Indonesian crypto space. The number of crypto holders has risen by over 11% from 2021 to 2023, showcasing increasing public interest.&nbsp;
Additionally, the recent presidential election victory of Prabowo Subianto, whose running mate, Gibran Rakabuming Raka, has expressed support for fostering opportunities in the crypto and blockchain space for the younger population in Indonesia.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/indonesia-ministry-of-finance-urged-to-review-crypto-tax-policy/" rel="noopener noreferrer nofollow">Indonesia’s Ministry of Finance Urged To Review Crypto Tax Policy</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Indonesia’s Ministry of Finance Urged To Review Crypto Tax Policy

ItsBitcoinWorld

Other articles published on Mar 5, 2024

Bitcoin Trust Osprey Mulls ETF Merger to Prevent Potential Liquidation

Doge Killer Price Prediction: LEASH Skyrockets 78% As Meme Coins Explode And Traders Rush To Buy ...

Singapore’s Temasek in Talks to Invest in OpenAI Amid Its $5T AI Chip Project

Ethereum Continues Bull Run Despite Pullback

Solana (SOL) Surges 25% in 7 Days: DeeStream (DST) Presale Matches Up Amidst Market Dynamics

Alibaba Makes Second Major AI Investment in 2024, Backs MiniMax in a $600M Round

Join our free newsletter for daily crypto updates!