Indonesia makes $3.78M in tax revenue from crypto transactions last year

Indonesia’s tax authority, the Direktorat Jenderal Pajak (DJP), reported that the country made 62 billion Indonesian rupiah ($3.78 million) in tax revenue from crypto transactions last year, according to an X post by Wu Blockchain, citing Tirto data. This marks a significant increase from the 24.6 billion rupiah collected in 2022, when taxes were first imposed on crypto transactions. However, the crypto transaction tax revenue was reduced to 22 billion rupiah in 2023. In this regard, Indonesian officials point to the high oscillations in crypto tax income, highlighting its close connection to market conditions.