Tempo are reporting that the Finance Minister’s tax compliance special staffer, Yon Arsal, announced that the Directorate General of Taxation has introduced a tax collection mechanism for transactions of cryptocurrency and Fintech. He suggested that the Finance Ministry receives nearly IDR 100-billion from this tax scheme on a monthly basis and hopes the tax revenue will continue to grow.
“Since May. One month, if I’m not mistaken, we received nearly IDR 100-billion in tax. This is still an initial phase and will grow as time goes,” said Yon in the Indonesia Retail Summit discussion on August 15.
He argues that everyone who makes the same amount of income despite from varying ways is subject to the same taxation payment system. “In the future, we will be able to provide justice to others, offline or online. We will continue to discuss this with other business sectors,” he added.
The Directorate General of Taxation is ready to launch a number of regulatory drafts but will wait for the perfect moment to introduce them, and this will rely heavily on considerations around the economic condition.
In terms of regulations for taxpayers, the Finance Ministry recently introduced the shift in utilizing NIK or citizenship identification number as taxpayer identification (NPWP), which in principle he said is to better facilitate taxpayers.