Indonesia has realized about 6.8 million USD each month since May on the tax imposed on cryptocurrency and fintech transactions.
In May, the Indonesian finance ministry set the Value Added Tax on crypto-assets purchases at 0.1%.
These transactions, earnings, and capital gains were subjected to a 0.1% final income tax.
Indonesia’s tax compliance special staffer Yon Arsal disclosed this while speaking at a recent retail conference.
Arsal said that the government was optimistic that the figure will increase as the legislation advances.
Reports indicate that Indonesia was able to achieve this feat aided by the increased usage of digital assets in the country which is estimated to amount to 11 million as of late 2021.