5/11, 7:55 AM (Source: TeleTrader)
more TeleTrader news

Indonesia considering taxing crypto trading

The Indonesian government is considering implementing taxes on the trading of cryptocurrencies, tax office spokesman Neilmaldrin Noor revealed on Tuesday.

"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 taxpayer who receives capital gain has to pay the tax and report it," Neilmaldrin argued.

There are more than three million people actively participating in the trading of cryptocurrencies according to Indonesia's largest exchange Indodax, despite the fact that the country has banned the use of cryptocurrencies as a payment instrument.

Breaking the News / ND