According to a Friday Reuters report, Hestu Yoga Saksama, a spokesperson for Indonesia’s tax office, said the country will be imposing “income tax and VAT” on crypto assets “because they are a commodity as defined by the Trade Ministry” and “not a currency.” The government is still reportedly considering how to implement such taxes, but legislation passed in response to the pandemic laid the groundwork for collecting revenue on cryptocurrency transactions.
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Source: Cryptocurrency - investing.com
