INDODAX, Indonesia’s largest cryptocurrency exchange, has adjusted its value-added tax (VAT) rates. This change is in line with Indonesia’s updated tax policy, specifically PMK No. 131 of 2024 and PMK No. 81 of 2024, which regulate VAT rates for cryptocurrency transactions.

The VAT rate for crypto asset purchases through Crypto Asset Physical Traders (PFAK) is now 0.12%. This is equal to 1% of the transaction value multiplied by the 12% VAT rate. Other services such as deposit fees and trading costs will be subject to 11% VAT, as per PMK No. 131 of 2024.

INDODAX CEO Oscar Darmawan expressed his full support for the updated tax system. He views the VAT adjustment as a step towards greater tax transparency in Indonesia. He also stressed that this change will improve transaction security and user convenience.$INJ $SPELL $IQ #CryptoReboundStrategy #NonFarmPayrollsImpact