From August 1st, Indonesia will increase the cryptocurrency trading tax rate and cryptocurrency mining value-added tax (VAT) rate.

BlockBeats News, July 30th: The Indonesian Ministry of Finance has issued a new regulation that will increase the tax rates related to cryptocurrency transactions starting from August 1st: the transaction tax for sellers on local exchanges will be raised from 0.1% to 0.21%, while for sellers on foreign exchanges it will increase from 0.2% to 1%; buyers will no longer pay value-added tax, with the original tax rate being 0.11%-0.22%.

Furthermore, the value-added tax rate for cryptocurrency mining will be increased from 1.1% to 2.2%, and the previously applicable 0.1% special income tax will be eliminated in 2026, shifting to individual or corporate income tax. (Reuters)