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Category: Indonesia

Indonesia imposes 11% on digital wallets and crypto assets May 2022

Indonesia imposes 11% on digital wallets and crypto assets May 2022

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Money transfer services via payment wallets do not enjoy Financial Services exemption. Also imposing VAT on crypto asset trading transactions Indonesia’s Finance Ministry has confirmed the financial tech companies offering digital wallet services will be subject to charging standard rated VAT.  This will apply from

Indonesia VAT reforms

Indonesia VAT reforms

in

More services to be brought into Value Added Tax regime Indonesia is looking to reform its Value Added Tax regime following the widening of its deficit to GDP to over 6%. It has already announced a possible rise in Indonesia VAT. The possible reforms would seek