Indonesia Records Over Rp27tn of Tax Revenue on Digital Economy Sector
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13 September 2024 12:45 WIB
TEMPO.CO, Jakarta - The Directorate General of Taxes at the Indonesian Ministry of Finance recorded tax revenues from the digital economy sector reaching Rp27.85 trillion from 2022 to the end of August 2024.
The revenue comes from the collection of Value Added Tax (VAT) on e-commerce or marketplaces, crypto tax, peer-to-peer lending (P2P Lending) or online loan tax, and procurement tax through the Government Procurement Information System (SIPP tax).
Director of Counseling, Services, and Public Relations, Dwi Astuti, said that since 2020, e-commerce VAT has deposited Rp22.3 trillion from 166 collectors. "The revenue in 2024 amounts to Rp5.39 trillion,” Dwi said in an official statement on Thursday, September 12, 2024.
Meanwhile, crypto tax revenues from 2022 have amounted to Rp875.44 billion, comprising Rp411.12 billion from income tax of crypto trade and Rp463.32 billion of crypto VAT.
Fintech tax for online loans also contributed tax revenues of Rp2.43 trillion since 2022 to August 2024. The online loan tax consists of income tax on loan interest received by domestic taxpayers and permanent establishments amounting to Rp765.27 billion. The government also collected income tax from foreign taxpayers amounting to Rp354.2 billion, and VAT on periodic deposits amounting to Rp1.31 trillion.
Tax revenues from other digital economic businesses came from SIPP tax revenues, reaching Rp2.25 trillion. SIPP tax revenues consisted of Rp152.74 billion of income tax and Rp2.09 trillion of VAT.
According to Dwi, the government will continue to tax digital business actors, to create justice and equality between e-commerce and conventional trade. The ministry also explores potential tax revenues from other digital economic businesses such as crypto taxes on crypto asset trading transactions, fintech taxes on loan interest paid by loan recipients, and SIPP taxes.
ILONA ESTHERINA
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