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

Indonesia's Ministry of Finance Urges To Review Crypto Tax Policy

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

Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) is reportedly asking the Ministry of Finance to re-evaluate the current tax regime for cryptocurrency transactions. 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. 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. 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

Delhi Budget 2024 Highlights: Finance Minister Atishi announces ₹ 1000 a month to all women aged 18 years and above

Delhi Budget 2024 LIVE: Delhi Finance Minister Atishi presented the ‘Ram Rajya’ budget amounting to 76,000 crore for the financial year 2024-25 today, March 4. The Budget Session of the Delhi Assembly commenced on February 15 and has been extended until March 8. The budget is the longest assembly session under the AAP government’s regime in Delhi.

The Delhi government continued its focus on education, health, power, and roads among others in the budget. It allocated 16,396 crore in the budget for education sector and 8,685 crore for health sector. The highlight of the budget was government announcing to give 1,000 per month to every woman aged 18 years and above under Mukhya Mantri Mahila Samman Yojna. Overall the scheme amounts to 2000 crores.

In 2023, the then Finance Minister Kailash Gehlot presented Delhi’s annual budget following the arrest of former finance minister Manish Sisodia in the exclusive policy case. The 2023 budget was based on the “Clean, beautiful, and modern” Delhi theme. The 2023 Delhi budget amounted to 78,800 crore with a provision of 21,000 crore for the city’s infrastructure.

Catch all the LIVE updates on Delhi Budget 2024 here,

Mar 04