Indonesia’s digital economy sector generates $1.75 bln in tax revenue
The tax revenue from the digital economy sector in Indonesia reached IDR 27.85 trillion ($1.75 billion) from 2022 to the end of August 2024, according to the Taxation Directorate General under the country’s Finance Ministry.
Indonesia will continue to tax digital business actors in order to create justice and equality between e-commerce and conventional trade. Photo courtesy of Thejakartapost.com.
The revenue comes from the collection of value added tax (VAT) on e-commerce or marketplaces, crypto tax, peer-to-peer lending (P2P Lending) or online loan tax, and procurement tax through the Government Procurement Information System (SIPP tax).
Director of Counseling, Services, and Public Relations Dwi Astuti said that since 2020, e-commerce VAT has deposited IDR 22.3 trillion from 166 collectors, with IDR 5.39 trillion in 2024 only.
Meanwhile, crypto tax revenues since 2022 have amounted to IDR 875.44 billion, comprising 411.12 billion IDR from income tax of crypto trade and IDR 463.32 billion of crypto VAT.
Fintech tax for online loans also contributed tax revenues of IDR 2.43 trillion between 2022 and August 2024.
Tax revenues from other digital economic businesses came from SIPP tax revenues, reaching IDR 2.25 trillion.
SIPP tax revenues consisted of IDR 152.74 billion of income tax and IDR 2.09 trillion of VAT.
According to Dwi, Indonesia will continue to tax digital business actors in order to create justice and equality between e-commerce and conventional trade.
The ministry also explores potential tax revenues from other digital economic businesses such as crypto taxes on crypto asset trading transactions, fintech taxes on loan interest paid by loan recipients, and SIPP taxes.
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