The total cryptocurrency tax revenue in Indonesia for 2023 is 31.7 million USD, a decrease of 62% compared to last year

ChainCatcher news, according to CoinDesk, the Indonesian Ministry of Finance stated that the total tax revenue from cryptocurrencies in 2023 was $31.7 million, a 62% decrease compared to the tax revenue during the partial collection period when the tax system was introduced in May 2022. Cryptocurrency transactions in Indonesia are subject to double taxation: a 0.1% income tax and a 0.11% value-added tax. Additionally, local cryptocurrency exchanges must pay approximately 0.04% in taxes to the national cryptocurrency exchange.