Indonesia’s crypto tax revenue reached its highest-ever level in 2024, hitting 620 billion rupiah ($38 million), a 181% increase from the previous year. This surge, fueled by transaction volumes totaling 650 trillion rupiah ($39.67 billion), paralleled the country’s expanding crypto user base, which now exceeds 20 million.
However, tax collections have slowed in 2025, with revenue standing at just 115 billion rupiah as of July, a drop officials attribute to the crypto market’s inherent volatility.
To keep pace with the industry, Indonesia introduced updated tax rules in 2025, including reforms in August designed to favor local platforms. Taxes on foreign exchanges were increased from 0.2% to 1%, while taxes on domestic exchanges saw a smaller hike, and buyers are now exempt from VAT on domestic trades.
The government also reclassified crypto from commodities to financial assets, initiating a shift in oversight from Bappebti to the Financial Services Authority (OJK), although this transition has been delayed.
While experts caution against overly aggressive policies that could push users offshore, the government sees long-term potential in crypto taxation, especially given its popularity among young investors aged 18 to 30.
As 2025 unfolds, the government expects its crypto tax revenue to continue reflecting the volatile yet vital nature of the market, with the OJK anticipated to deliver a clearer regulatory framework once its authority is finalized.
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