Data from the Financial Services Authority (Otoritas Jasa Keuangan/OJK) shows that total crypto-asset transaction value in Indonesia reached IDR 482.23 trillion in 2025, down 25.9% from IDR 650.61 trillion in 2024. Previously, annual transaction volumes stood at IDR 859.4 trillion in 2021, contracting to IDR 306.4 trillion in 2022 and IDR 149.25 trillion in 2023, before rebounding sharply by 335.91% in 2024 amid a global crypto market recovery.
In terms of user adoption, OJK recorded 20.19 million crypto consumers at year-end 2025, compared to 22.91 million customers at the end of 2024, noting differences in the reporting basis. By February 2026, active user accounts climbed back to 21.07 million.
Concurrently, the Directorate General of Taxes (DGT) collected IDR 796.73 billion in crypto tax revenues in 2025. This massive market activity and substantial tax revenue suggest a need for stronger tax compliance, improved cross-border financial information exchange, and better supervision.
Crypto-Asset Transaction Tax in Indonesia
Tax regulations governing crypto-asset trading underwent revisions effective August 1, 2025. Previously, Minister of Finance Regulation (Peraturan Menteri Keuangan/PMK) Number 68/PMK.03/2022 concerning Value-Added Tax and Income Tax on Crypto-Asset Trading Transactions governed these transactions. This regulation was subsequently replaced by PMK Number 50 of 2025 concerning Value-Added Tax and Income Tax on Crypto-Asset Trading Transactions.
Under PMK Number 50 of 2025, crypto-assets are legally classified as securities, meaning their transfer is no longer subject to VAT. VAT continues to apply to electronic platform services that facilitate crypto-asset transactions provided by electronic trading systems (penyelenggara perdagangan melalui sistem elektronik/PPMSE) and to transaction verification services performed by crypto miners.
Regarding income tax, revenue earned by crypto sellers remains subject to a final Article 22 income tax, with rates determined by the type of platform facilitating the trade. Transactions executed through domestic PPMSEs registered as digital financial asset traders (pedagang aset keuangan digital/PAKD) incur a final Article 22 income tax rate of 0.21% of transaction value. On the other hand, transactions facilitated by non-PAKD PPMSEs, including transactions conducted through overseas PPMSEs under certain circumstances, are subject to a 1% rate.
PMK Number 50 of 2025 also determines which party is responsible for collecting Article 22 income tax. When a transaction is conducted through a PPMSE appointed as a tax collector, the PPMSE collects the tax. Where a PPMSE has not been appointed as a collector under circumstances specified in the regulation, the crypto-asset seller must self-pay the Article 22 income tax.
Consequently, income tax collection on crypto-assets must be evaluated based on PPMSE and PAKD status under PMK Number 50 of 2025 rather than basic exchanger status under the prior regime.
Reporting and Supervisory Shift
The tax reform aligns with the transition of crypto-asset regulatory and supervisory authority from Bappebti to the OJK, effective January 10, 2025. Mandated under the Law of the Republic of Indonesia Number 4 of 2023 concerning Financial Sector Development and Strengthening (P2SK Law) and Government Regulation Number 49 of 2024.
This institutional shift affects the crypto-asset ecosystem, including its tax treatment and the obligation to report financial information to the tax authorities.
CARF and Crypto-Asset Reporting in Indonesia
Beyond local VAT and income tax compliance, crypto-asset businesses in Indonesia must comply with the Crypto-Asset Reporting Framework (CARF). On August 10, 2026, the Director General of Taxes issued Announcement Number PENG-5/PJ/2026 concerning the Obligation to Retain Valid Self-Certification Forms to adhere to financial information access provisions for tax purposes under CARF.
CARF is an international standard developed by the OECD for the automatic collection and exchange of tax-related information on crypto-asset transactions between jurisdictions. It forms part of the continuing development of Automatic Exchange of Information (AEOI) standards and is intended to enhance tax transparency for crypto-assets.
In Indonesia, CARF is based on the Law of the Republic of Indonesia Number 9 of 2017 concerning Financial Information Access for Tax Purposes and PMK Number 108 of 2025 concerning Technical Guidelines for Financial Information Access for Tax Purposes. Indonesia has committed to commencing CARF information exchanges in 2027 for information relating to 2026.
Crypto-Asset Service Providers Obligations
Under PMK Number 108 of 2025, reporting crypto-asset service providers (CASPs) have two primary obligations. First, they must submit reports containing relevant crypto-asset information under CARF requirements. Second, they must perform due diligence procedures to identify financial accounts, both when opening new crypto-asset user accounts and for pre-existing accounts, in accordance with the procedures prescribed under PMK Number 108 of 2025.
As part of due diligence, a reporting CASP must obtain a valid self-certification from a prospective crypto-asset user as a document separate from the account-opening documentation. The reporting CASP must also verify the reasonableness and validity of the self-certification against information in its possession or obtained, including documentation collected through anti-money laundering (AML) and know-your-customer (KYC) procedures.
Based on this process, the reporting CASP determines the crypto-asset user’s tax residence jurisdiction.
Self-Certification Information Required
At a minimum, a valid self-certification must contain the crypto-asset user’s full name, address, jurisdiction of tax residence, and taxpayer identification number (nomor pokok wajib pajak/NPWP) in each jurisdiction of tax residence. If NPWP is unavailable or the user is not required to obtain one, the user must also state the reason.
For individuals, the self-certification must additionally include the place and date of birth and a declaration that the information provided is correct. Crypto-asset users must notify the reporting CASP of any change in circumstances that makes the information in their self-certification incorrect or incomplete no later than 90 days after the change occurs.
Indonesia applies a wider approach to data collection under CARF. Under this approach, reporting CASPs must obtain tax residency information and NPWP from crypto-asset users within the scope of PMK Number 108 of 2025, rather than only from users already known to be tax residents of a reportable jurisdiction.
For crypto-asset users who are Indonesian resident taxpayers, the taxpayer identification information to be obtained is a validated national identification number or a 16-digit NPWP. For non-resident taxpayers, reporting CASPs must obtain the equivalent taxpayer identification number issued by the user’s jurisdiction of tax residence, where such identification is required under the applicable rules.
Entity Crypto-Asset Users
Specific requirements apply where the crypto-asset user is an entity. If the entity is neither an active entity nor an excluded person, the reporting CASP must also obtain a self-certification from each controlling person of the entity.
Information on controlling persons helps determine whether any individual is reportable under CARF, including under the ownership or control criteria prescribed in the applicable rules.
Record-Keeping Requirements
A reporting CASP’s obligations do not end when an account is opened. Reporting CASPs must obtain, retain, and maintain self-certifications, supporting documentation, and information used in the identification process under applicable requirements.
These records must be retained and maintained for at least five years after the end of the reporting period in which the relevant CARF-reportable information is reported.
Where a change in circumstances causes a reporting CASP to know, or have the right to know, that a previously obtained self-certification is no longer correct or reliable, the reporting CASP must obtain a new self-certification.
Prospective crypto-asset users who fail to provide a valid self-certification cannot open a new account. For existing users who refuse to comply with identification procedures, reporting CASPs must restrict new transactions under PMK Number 108 of 2025.
Conclusion
The CARF expands tax compliance obligations across Indonesia’s crypto-asset sector. While the previous regulation focused mainly on collecting VAT and income tax, CARF adds requirements to collect, verify, and report information on crypto-asset users and transactions to support cross-border exchange of tax information.
For reporting CASPs, compliance requires adequate due diligence procedures, self-certifications, systems for managing tax residency and taxpayer identification data, and appropriate documentation. Non-compliance may lead to new account opening and transaction restrictions under applicable rules.
For crypto-asset users, CARF means their identity, tax residence, and reportable crypto-asset transactions may be reported to the tax authorities and exchanged with foreign tax authorities under prevailing information-exchange regulations. To better understand the tax implications of crypto-asset transactions and ensure readiness for CARF compliance, Ideatax is ready to help.
Legal References
- Law of the Republic of Indonesia Number 9 of 2017 concerning the Stipulation of Government Regulation in Lieu of Law of the Republic of Indonesia Number 1 of 2017 concerning Financial Information Access for Tax Purposes into Law.
- Law of the Republic of Indonesia Number 4 of 2023 concerning Financial Sector Development and Strengthening.
- Minister of Finance Regulation Number 50 of 2025 concerning Value-Added Tax and Income Tax on Crypto-Asset Trading Transactions.
- Minister of Finance Regulation Number 108 of 2025 concerning Technical Guidelines for Access to Financial Information for Tax Purposes.
- Director General of Taxes Announcement Number PENG-5/PJ/2026 concerning the Obligation to Retain Valid Self-Certification Forms for the Implementation of Provisions on Financial Information Access for Tax Purposes under the Crypto-Asset Reporting Framework (CARF).
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