How to Report Crypto Income in Indonesia: Complete Tax Guide 2024

As cryptocurrency adoption surges in Indonesia, understanding how to report crypto income has become crucial for investors and traders. The Indonesian government now treats cryptocurrencies as taxable commodities, requiring proper declaration to avoid penalties. This comprehensive guide explains Indonesia’s crypto tax regulations, walks you through the reporting process step-by-step, and answers common questions to ensure full compliance with Directorate General of Taxes (DJP) requirements.

Indonesia’s Crypto Tax Regulations Explained

Under Finance Minister Regulation No. 68/PMK.03/2022, Indonesia classifies cryptocurrency as a taxable commodity subject to:

• Income Tax (PPh): 0.1% final tax on crypto capital gains
• VAT (PPN): 0.11% value-added tax per transaction
• Withholding Tax: Deducted automatically by crypto exchanges

These taxes apply to all crypto-related income including trading profits, mining rewards, staking yields, and NFT sales. Failure to report can result in penalties up to 200% of unpaid taxes plus interest charges.

Step-by-Step Guide to Reporting Crypto Income

1. Calculate Your Taxable Income

Determine your net capital gains using this formula:
Total Selling Price – (Purchase Cost + Transaction Fees)

2. Obtain Transaction Records

Download complete transaction history from your crypto exchange (e.g., Tokocrypto, Indodax). Required details include:

• Buy/sell timestamps
• IDR transaction values
• Asset types and quantities
• Wallet addresses

3. File Through DJP Online

1. Log in to DJP Online using your NPWP
2. Select ‘e-Filing’ > ‘Tax Return’
3. Choose Form 1770 for individuals or 1771 for businesses
4. Enter crypto income under ‘Penghasilan Lainnya’ (Other Income)
5. Attach transaction records as PDF

4. Payment Deadlines

• Monthly VAT: By the 15th of following month
• Annual Income Tax: March 31st each year

Common Reporting Mistakes to Avoid

• Ignoring small transactions – All trades regardless of size are taxable
• Forgetting mining/staking income – Rewards count as ordinary income
• Using USD values – Always convert to IDR using Bank Indonesia rates
• Missing deadlines – Late filings incur 2% monthly penalties

Frequently Asked Questions (FAQ)

Do I need to report crypto if I only hold?

No. Taxes only apply when you sell, trade, or earn crypto. Long-term holdings without transactions aren’t taxable.

How is crypto taxed for foreign residents?

Non-residents pay 20% final income tax on Indonesian-sourced crypto earnings. Use Form 1770 for declaration.

Can I deduct crypto losses?

Yes. Capital losses can offset gains within the same tax year but cannot be carried forward to subsequent years.

Are peer-to-peer transactions taxable?

Yes. All crypto-to-fiat or crypto-to-crypto trades must be reported, including P2P platforms and decentralized exchanges.

What if my exchange doesn’t provide tax documents?

You’re still legally required to self-report using wallet histories and blockchain explorers. Maintain detailed records for audit purposes.

Pro Tip: Use Indonesian tax software like OnlinePajak or Klikpajak to automate calculations and ensure accurate filings. Always retain transaction records for 10 years as per DJP requirements.