Indonesia’s Annual Cryptocurrency Tax Revenue Reaches $364 Million, with Over 20 Million Users

According to Jinse Finance, data from Indonesia’s Directorate General of Taxes shows that the country’s annual cryptocurrency tax revenue fluctuates between 5 and 6 billion rupiah (approximately $31.25 million to $36.4 million). Specifically, the first year of collection in 2022 brought in 2.46 billion rupiah, which dropped to 2.2 billion rupiah in 2023, surged to 6.2 billion rupiah in 2024, and has reached 1.15 billion rupiah so far in 2025. Recently, the Indonesian government adjusted its cryptocurrency regulatory policies, raising the tax rate for overseas trading platforms to 1%, while the rate for domestic platforms increased only to 0.21%. At the same time, value-added tax for cryptocurrency buyers has been abolished, and crypto assets have been reclassified as financial assets, now falling under the supervision of the Financial Services Authority. Currently, the number of cryptocurrency users in Indonesia has surpassed 20 million, exceeding the number of stock market investors in the country. The tax authorities noted that cryptocurrency price volatility may impact future tax revenue performance.