Tax Brief: Minister of Finance Regulation Number 50 of 2025 concerning VAT and Income Tax on Cryptoasset Trading Transactions
According to data from Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan/OJK), cryptoasset transactions in May 2025 reached IDR 49.57 trillion. This represents a significant jump from April 2025, where the number of cryptoasset transactions was recorded at IDR 35.61 trillion (Antara, 2025).
This surge in activity was also reflected in the number of crypto users. In April 2025, the OJK recorded 14.16 million users, which rose to 14.78 million by May 2025 (Antara, 2025).
Hasan Fawzi, Chief Executive of Financial Sector Technological Innovation, Digital Financial Assets, and Cryptoasset Supervision at the OJK, stated that this growth in transactions and users reflects strong consumer confidence and steady market conditions.
As the crypto market expands, taxation serves as a fiscal instrument to ensure legal certainty and support healthy business activity. In response, the government issued Minister of Finance Regulation (Peraturan Menteri Keuangan/PMK) Number 50 of 2025, updating the rules on value-added tax (VAT) and income tax for cryptoasset trading.
In 2022, the government initially issued PMK Number 68/PMK.03/2022 concerning Value-Added Tax and Income Tax on Cryptoasset Trading Transactions. PMK Number 50 of 2025 amends the earlier regulation.
According to its recital, the government made amendments to PMK Number 68 of 2022 to provide legal certainty, simplify procedures, and improve the administration of tax collection, payment, and reporting for cryptoasset transactions. Therefore, PMK Number 50 of 2025 was introduced to govern the VAT and income tax on cryptoasset transactions.
VAT Treatment for Cryptoasset Transactions
Under the updated rules, cryptoasset transfers that are treated similarly to securities are exempt from VAT.
However, the regulation identifies two categories of taxable services related to cryptoasset transactions that are still subject to VAT, including:
- Services that provide electronic platforms facilitating cryptoasset trades, typically by electronic trading system providers.
Verification services for cryptoasset transactions carried out by miners.
VAT on Electronic Platform Services
PMK Number 50 of 20205 outlines that services considered VAT-liable include:
- buying and selling cryptoassets using fiat currency;
- swapping one cryptoasset for another; or
- electronic wallets (e-wallets) involving deposits, withdrawals, transfers to other accounts, and the storage or management of cryptoassets.
VAT on these services must be collected, paid, and reported by electronic trading system providers, such as marketplaces. The applicable VAT rate is 12%, calculated on a tax base of 11/12 of the commission or service fee received.
VAT on Cryptoasset Verification Services
Unlike VAT on electronic platform services, VAT on cryptoasset verification services is collected, paid, and reported by cryptoasset miners at a rate of 12%. However, the tax base differs. It is calculated as 20% multiplied by 11/12 of the compensation received.
Income Tax Treatment of Cryptoasset-Related Income
PMK Number 50 of 2025 outlines three categories of income from cryptoassets that are subject to income tax, including income received or earned:
- from selling cryptoassets;
- by electronic trading system providers; or
- by cryptoasset miners.
Income Tax on Cryptoasset Sales
Cryptoasset sales, as referred to in letter a, may involve fiat payments or other crypto-for-crypto transactions. Cryptoasset sales are subject to a final income tax under Article 22, set at 0.21% of the transaction value, as stipulated in PMK Number 50 of 2025.
Income Tax on Cryptoasset Electronic Trading System Providers
Electronic trading system providers, as referred to in letter b, are taxed on all revenue earned from facilitating transactions involving cryptoassets. This includes fees from:
- providing crypto trading platform services;
- withdrawal services;
- deposit services;
- cryptoasset transfers between e-wallets;
- cryptoasset storage and/or management services; or
- other services related to cryptoassets.
This income is taxed under general income tax rates and must be reported in the provider's corporate income tax return.
Income Tax on Cryptoasset Miners
PMK Number 50 of 2025 stipulates that crypto miners are taxed on the following types of income:
- service fees received for verification activities;
- income from the cryptoasset system, such as block rewards and transaction fees; and/or
- other income not covered under letters a and b.
Like platform providers, miners are subject to general income tax rates and must report the income on their tax returns.
These are the highlights of VAT and income tax regulations on cryptoassets under PMK Number 50 of 2025. If you need further assistance, Ideatax is here to help.
References
AntaraOJK catat nilai transaksi aset kripto Rp49,57 triliun selama Mei 2025
Legal References
- Law of the Republic of Indonesia Number 7 of 1983 concerning Income Tax, as amended by Law of the Republic of Indonesia Number 7 of 2021 concerning Harmonization of Tax Regulations.
- Law of the Republic of Indonesia Number 8 of 1983 concerning Value-Added Tax and Luxury Goods Sales Tax, as amended by Law of the Republic of Indonesia Number 7 of 2021 concerning Harmonization of Tax Regulations.
- Minister of Finance Regulation Number 68/PMK.03/2022 concerning Value-Added Tax and Income Tax on Cryptoasset Trading Transactions.
- Minister of Finance Regulation Number 50 of 2025 concerning Value-Added Tax and Income Tax on Cryptoasset Trading Transactions.