June 28, 2022

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Indonesia is considering a plan to tax trading of cryptocurrencies (ps. nothingburger)

1 min read

An item from Tuesday from Indonesia (via Reuters) … gotta say this seems like a nothing burger? 

Neilmaldrin Noor, a spokesman at Indonesia’s tax office

  • “It is important to know that… if there is a profit or capital gain generated from a transaction, the profit is an object of income tax”
  • “So the tax payer who receives capital gain has to pay the tax and report it”

Jiggle around those words a little for your local jurisdiction and I think you’ll find it applies to any trading / investment transaction? Not specific to crypto. 

Ya know … how about this:
Indonesia is considering a plan to tax trading of cabbages:

  • “It is important to know that… if there is a profit or capital gain generated from a transaction, the profit is an object of income tax”
  • “So the tax payer who receives capital gain has to pay the tax and report it”

Yeah? No? (ps. apologies to cabbage farmers, just an example, nothing personal)

Anyways … BTC update:

An item from Tuesday from Indonesia (via Reuters) ... gotta say this seems like a nothing burger? 

 

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