Summary
Forex and crypto traders in Indonesia operate under two separate tax frameworks. Crypto asset trading has a dedicated final PPh regime under PMK 68/PMK.03/2022, with rates of 0.1% (registered exchanges) or 0.2% (unregistered). Forex trading profits are taxed as general income under progressive PPh OP rates. Both must be reported in SPT 1770. This guide covers both regimes, calculation methods, and common reporting errors.
Tax Classification
Crypto Assets
Under PMK No. 68/PMK.03/2022, crypto assets (aset kripto) are defined as digital commodities subject to:
- PPh Final on each sale/exchange transaction.
- VAT on the trading service provided by the exchange.
The DGT treats crypto as a commodity, not a currency. This is aligned with BAPPEBTI's classification under Perka BAPPEBTI No. 8/2021.
Forex Trading
Forex (foreign exchange) profits are not subject to final PPh. They are classified as general income under Article 4(1) of UU PPh No. 36/2008. Gains and losses are included in annual taxable income and taxed at progressive PPh OP rates.
Key Regulations
- PMK No. 68/PMK.03/2022 — Final PPh on crypto asset transactions; VAT on crypto trading services.
- UU No. 36 Tahun 2008 (UU PPh) — Article 4(1): general income taxability including forex gains.
- UU No. 42 Tahun 2009 (UU PPN) — Article 4: VAT on crypto trading services.
- PP No. 55 Tahun 2022 — MSME final PPh 0.5% option for crypto/forex trading if structured as a registered business below IDR 4.8B threshold.
- Perka BAPPEBTI No. 8/2021 — Regulatory classification of crypto assets as digital commodities.
- PER-17/PJ/2015 — NPPN norms applicable to forex trading as business income.
Crypto Tax: Rates and Mechanics
Under PMK 68/2022, the PPh Final rate depends on whether the transaction occurs on a registered (BAPPEBTI-licensed) exchange or not:
| Exchange Type | PPh Final Rate | VAT Rate |
|---|---|---|
| Registered (BAPPEBTI-licensed) | 0.1% of transaction value | 0.11% of transaction value |
| Unregistered / P2P / offshore | 0.2% of transaction value | 0.22% of transaction value |
Both rates apply to the gross transaction value at the time of sale or exchange — not to profit.
Withholding: Registered Indonesian exchanges (Indodax, Tokocrypto, Pintu, etc.) withhold and remit PPh Final and VAT on behalf of traders. The trader receives a tax receipt.
Example — sell 1 BTC worth IDR 900,000,000 on Indodax:
| Item | Rate | Amount |
|---|---|---|
| PPh Final | 0.1% | IDR 900,000 |
| VAT | 0.11% | IDR 990,000 |
| Net received | — | IDR 898,110,000 |
For transactions on offshore or unregistered platforms, the trader must self-calculate and pay both 0.2% PPh Final and 0.22% VAT via e-Billing.
Crypto-to-Crypto Swaps
PMK 68/2022 also covers crypto-to-crypto exchanges (e.g., BTC to ETH). The taxable event is the exchange itself, using the IDR value at the time of the swap. Registered exchanges handle withholding automatically.
Forex Tax: Rates and Mechanics
Forex trading profits — from currency pairs like USD/IDR, EUR/USD traded via broker platforms — are general income. They are not subject to final PPh.
Two options for calculating forex trading income:
Option 1: NPPN (Deemed Income Norm)
Forex traders who do not maintain full bookkeeping may elect NPPN norms (PER-17/PJ/2015). The applicable KLU for financial trading activities is 66190 (other financial services). NPPN rate varies by city tier (typically 34-27%). Notify KPP before March 31.
Option 2: Actual Bookkeeping
Maintain a trading journal with all trades (entry, exit, P&L in IDR). Net profit = Taxable income added to other income sources. Subject to progressive PPh OP rates.
Example — forex trader with annual net profit IDR 200,000,000:
| Income Tier | Rate | Tax |
|---|---|---|
| Up to IDR 60,000,000 | 5% | IDR 3,000,000 |
| IDR 60M - 200M (IDR 140M) | 15% | IDR 21,000,000 |
| Total PPh | IDR 24,000,000 | |
| PTKP deduction (single) applied before calculation | IDR 54,000,000 | — |
VAT on Crypto Services
Under PMK 68/2022, VAT applies to the trading service (jasa fasilitasi perdagangan kripto) provided by the exchange, not to the crypto asset itself. The effective VAT rate is 0.11% (registered) or 0.22% (unregistered) of transaction value. This is significantly lower than the standard 12% VAT rate because it is calculated on a reduced DPP (10/11 of the service fee portion).
Reporting in SPT 1770
Crypto Traders
- Declare crypto income in Lampiran IV (Final Income — PPh Final).
- Attach annual transaction summary from exchange (downloaded from platform dashboard).
- No additional PPh owed on crypto; tax is settled at each transaction.
Forex Traders
- Declare forex profit in Lampiran I (Business/Professional Income).
- If using NPPN, attach NPPN election confirmation.
- If using bookkeeping, attach profit calculation summary.
- Pay any outstanding PPh 29 balance before March 31.
Deadline: March 31 via DJP Online.
Real-World Example
Trader with both crypto and forex income, 2025 tax year:
| Income | Amount | Tax Treatment |
|---|---|---|
| Crypto sales on Indodax (total proceeds) | IDR 500,000,000 | PPh Final 0.1% = IDR 500,000 (withheld) |
| Forex net profit | IDR 150,000,000 | PPh OP progressive |
| — PTKP deduction | IDR 54,000,000 | — |
| — Net PKP | IDR 96,000,000 | — |
| — PPh: 5% x 60M + 15% x 36M | — | IDR 8,400,000 |
| Total tax paid | IDR 8,900,000 |